The new owner is America Pacific International Capital Inc., a multi-national private corporation that has been headquartered in Portland since 1998. Company chairman Wilson Chen tells GlobeSt.com the short-sale price was between $50 million and $60 million.
The CalPERS JV that gave the building back included Commonwealth Partners. The foreclosure proceedings by New York Life led to the appointment of a locally-based receiver who subsequently retained the brokerage firm Eastdil Secured to sell building.
Located at 222 SW Columbia, KOIN Center has 23,000 square feet of street-level retail, 324,000 square feet of office space on floors four through 19, and 44 residential condominiums on the top 11 floors that were not included in the either sale. Below grade are 68,000 square feet of studio and broadcast facilities for KOIN-TV, the local CBS affiliate, and parking for 300 vehicles. Major tenants include KOIN-TV, Aetna Life Insurance, First American Title Insurance, AIG Domestic Claims, Inc., Lucy Activewear, Inc., Bank of the West, Willis of Oregon, Kirkpatrick & Lockhart Preston Gates Ellis LLP, Pacific Continental Bank, Morton's of Chicago and Charles Schwab.
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