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Swift Real Estate Partners Sells Office Portfolio for $32.3M

NBP Capital Purchases Two Historic Buildings in Downtown Portland
September 25, 2017
Swift Real Estate Partners sold Blagen Block and New Market Theater in Portland, Oregon to NBP Capital for $32.3 million, or about $259 per square foot.

The historic four-story Blagen Block building at 30 NW Frist Ave. was completed in 1888 and is fully leased by Airbnb at present. The six-story New Market Theater building was delivered at 50 NW Second Ave. in 1871 with renovations completed in 1984; it is approximately seventy percent leased according to CoStar data.

The deal totals 124,754 square feet - 86,254 square feet in the New Market Theater and 38,500 square feet in Blagen Block, and includes a 1,200-seat theatre inside New Market Theatre.

Charles Safley and Trevor Kafoury of CBRE represented the seller on the deal.

Please see CoStar COMPS # 4006593 for more information on this transaction.
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