Historic U.S. Bank Block Sale

Tonkon Torp real estate and tax lawyers were instrumental in the complex, $40 million sale of the historic U.S. Bank Block in downtown Portland to real estate investment firm ScanlanKemperBard. Representing the seller, attorneys Jeff Keeney, Kimberlee Stafford and Mark LeRoux provided counsel and negotiated and handled the transactions for the sale of three interconnected buildings and a parking garage, comprising an entire city block, and their client’s subsequent purchase of six properties – four of which are historic buildings – in a 1031 exchange. 

Because of the number of properties and entities involved in the sale and the 1031 exchange, the deal required a very complex set of escrow documents and closely timed transactions. Keeney handled the work related to the sale of the U.S. Bank Block, Stafford handled the purchase of the properties in the 1031 exchange, and LeRoux provided advice on details of the tax deferred exchange. 

On behalf of a variety of clients, Tonkon Torp’s Real Estate & Land Use practice group lawyers are involved in the continuing transformation of downtown Portland as historic buildings are revitalized and other properties are repurposed. 

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