64K-SF Portland Office Building Secures Financing

Ethos Commercial Advisors secured acquisition financing for 1631 Thurman, a stabilized 64,000-square-foot Class A office building. The building is situated at the confluence of the Pearl District and Slabtown, providing immediate access to luxury multifamily residences, restaurants, and retail shops. The 100% occupied property offered durable cash flow with no leasing risk through 2033.

Daniel Natsch and Matthew Illias of Ethos Commercial Advisors originated a five-year fixed-rate loan at 70% LTV with a local credit union. Chris Johnson and Brandon Frank of Colliers oversee leasing for the property. Located in the Northwest Pearl District, 1631 NW Thurman features original exposed brick and old-growth timbers throughout the interior.

The two-acre property features a 63,590-square-foot office building and 155 parking spaces. Built in 1908 as the historic Spokane Portland and Seattle Railway building, Thurman East’s common area, including the lobby and restrooms, has been renovated and refreshed with modern elements.

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