March 24, 2016
George Smith Partners has secured $19.9 million in bridge/rehab financing for Under Armour’s future expansion efforts in Portland, OR. The banking firm represented owner Rob Brewster’s Run Our Dream LLC, who is currently in the permitting process with the city of Portland. George Smith’s Malcolm Davies, Kyle Henrickson and Teddy Stutz arranged the financing.
The owner picked up the building, a former YMCA at 2815 SW Barbur Blvd., for $10 million last year. The plan is to renovate the current 68,698-square-foot structure into a 108,698-square-foot campus for the sports apparel company. Under Armour signed a 15-year lease at the property in 2015.