1115 SE 164th Avenue - Vancouver, WA
1115 Southeast 164th Avenue, Vancouver, WA, 98683, US
46 545 mètres carrés
Attributs
Status
Matured
Loan Purpose
Acquisition
Original Principal Amount
$33,635,340
Current UPB
$20,660,106 (As of May 2026)
Current UPB PSF
$146
Origination Date
11/1/2019
Année de construction
1989
Année de rénovation
2007
Superficie locative
13 182 mètres carrés
Appel d'offres
07/14/2026
Descriptif
Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller to arrange the sale of a $20.7 million non-performing office loan (the “Loan”). The Loan is secured by a first-lien mortgage on a 141,891 square foot office property in Columbus, OH (the “Collateral” or “Property”). The Loan was originated in November 2019 with an original maximum principal balance of $33.6 million, a maturity date of November 2023, and was secured by two office properties. The Loan was subsequently amended to release the lien on one of the office properties and extend the maturity date to March 2026. The Loan failed to pay off at maturity and is currently in cash management. As of May 2026, the Loan has an unpaid principal balance of $20.7 million.
The Collateral comprises a twelve-story office complex constructed in 1989 and renovated in 2007, situated on a 0.92-acre site in Columbus, OH. The Property features 141,891 square feet of net rentable area and a six-story parking garage that generates meaningful cash flow. Strategically located in the Brewery District of Columbus, the Property has convenient access to major employment corridors, regional amenities, and crucial thoroughfares. As of April 2026, the Property was 76% occupied.
The offering presents investors with the ability to acquire the Loan at a favorable basis, significantly below replacement cost, with a potential direct path to ownership via a planned Deed in Escrow.
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Points forts de l'investissement
Rare Urban Parking Advantage
The building includes an attached 579-car structured garage – a rare and significant competitive advantage in the urban Columbus office market, where parking access is increasingly a primary driver of tenant retention and leasing velocity.
Major Infrastructure Tailwind
As part of ODOT’s $1.4B Downtown Ramp Up Project, Ohio has already invested $700 million into the reconstruction of interstates, with another $250 million of committed funding for future phases that will deliver two continuous lanes of I-70 and I-71 in each direction. The High Street bridge, located in close proximity to the Property, is the next phase of reconstruction, driving long-term connectivity and value to the Brewery District.
Cash Flow Visibility
The near 7-year weighted average lease term insulates the Property from near-term rollover risk, providing a buyer with durable, predictable cash flows through the hold period.
Path to Ownership
With a Deed-in-Escrow anticipated prior to closing, the Loan provides investors with a potential direct path to title at a favorable basis, significantly below replacement cost.
Média
$20.7 Million Non-Performing Office Loan | Columbus, OH (0 Propriétés)
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Dernière mise à jour
Jun 4, 2026