Unico Properties has purchased 38 Davis, a six-story mixed-use building overlooking the Willamette River in Portland’s Old Town Chinatown neighborhood.

Developed by Gerding Edlen in 2016, the 124,006-square-foot building was 97 percent leased at the time of sale. Tenants include Ankrom Moisan Architects, the University of Oregon and Airbnb.

38 Davis was sold by 8L, a limited liability company that is a joint partnership of Gerding Edlen Development and Ankrom Moisan.

The purchase price was neither disclosed, nor publicly available Thursday. Multnomah County assessed the property at a market value of $36.7 million in 2017.

The building has 88,263 square feet of office space on the first four floors and 65 apartments on the top two floors, including 36 affordable units. The apartments were 100 percent leased at time of sale.

The Gerding Edlen-Ankrom Moisan partnership purchased the property from the Portland Development Commission (now Prosper Portland) for $2.6 million in April 2015, according to public records.

Unico Properties, based in Seattle, is a major property owner in Portland, with assets including the U.S. Bancorp Tower – better known as Big Pink – The Lovejoy and Macadam Place.

In a news release, Brian Pearce, Unico’s senior vice president of real estate services, described the property as a “high quality, stabilized asset” with attractive office amenities.

Unico will also serve as property manager of 38 Davis.

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