I recently had the opportunity to represent several clients, WHJ Holdings LLC, in the acquisition of a iconic downtown property — the YWCA Building on SW Tenth Avenue. The acquisition involved careful analyses of complex zoning issues and of claims made by third parties against the seller. I successfully negotiated a significant price reduction as a result of these analyses. We are now exploring options for the development of the site which may include redeveloping the existing structure or constructing a new mixed use tower on the site. I am looking forward to being a part of the redevelopment of a site which is an integral part of Portland’s Cultural District.
I recently assisted another client in closing a large construction loan while a neighborhood association appeal of a Portland Design Commission decision was pending before LUBA and then the Oregon Court of Appeal. This transaction also involved careful analysis of the City ordinances but more importantly a level headed assessment of risk. It was important to close the loan as an interest rate lock was about to expire. We also negotiated and closed on an equity investment in the project with the appeal pending.