Ethos Development LLC

We recently closed on Clay & Tiffany, a beautiful vintage connected two-building asset near PSU in downtown Portland. At a 7+% in-place cap rate with 5.6% agency debt this acquisition represents a bright spot during a tough moment in CRE and we hope there is more of this to come in 2024. What's more is that seismic and systems upgrades have already been completed and the interiors have been tastefully renovated. Thank you to Lombard Equities Group for your continued partnership, Lee Fehrenbacher and HFO Investment Real Estate · Member of GREA for shepherding us through the acquisition, Meritus Property Group for grabbing the operational reigns and moving to fill the few vacancies we inherited, and to our investors for your continued trust and support.