Broadway Tower sold
A large part of the Broadway Tower has been sold.
The condominium section of the building that hosts the Radisson Red hotel has been sold.
The 19-story tower at 1455 S.W. Broadway was completed by Walter Bowen's BPM Real Estate Group in fall 2018.
(The Portland developer's Bowen Development Construction also built and sold the Pearl West tower, home of Wacom the tablet maker, and is behind the building that will become the new Ritz Carlton hotel at Southwest 10th Avenue and Alder Street.)
The agent for the sale, Newmark Knight Frank, said the property is 99% leased. Tenants include Amazon, Markowitz Herbold, Cable Huston and Lawyers' Title.
The Broadway Tower is a two-year-old mixed-use tower comprised of Class A office space and a 180-room Radisson RED hotel. The seller is BDC/Broadway Office LLC. The buyer is Principal Real Estate Investors.
Newmark Knight Frank director James Childress said in a statement: "We received a number of offers from qualified foreign and domestic groups who were searching for best-in-class office assets that provided a better yield premium over the west coast gateway markets such as Seattle and San Francisco."
Bowen's Pearl West building, sold for $87.5 million in 2017.
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