Oak Park Investments Acquires Industrial Property in Portland, Oregon
LOS ANGELES – Oak Park Investments, a Los Angeles-based commercial real estate investment firm, announced today its acquisition of Columbia Gateway, an industrial property in Portland, Oregon. Oak Park Investments and joint venture partner Walker & Dunlop Investment Partners will reposition the property through upgrades and improvements for warehouse, manufacturing and distribution needs.
“Oak Park Investments is proud to add to our growing portfolio of properties in the western United States,” said Ori Doron, Oak Park Investments Co-Founder and Principal. “We look forward to modernizing and repositioning Columbia Gateway and are thrilled to have partnered with Walker & Dunlop Investment Partners on this acquisition.”
Built in 1990, Columbia Gateway offers 140,725 square feet of industrial space, with 10 acres of land, 133 stalls allocated for trailer and car parking, and heavy power. Oak Park Investments plans to reconfigure the building into a one or two-tenant industrial facility designed to attract leading manufacturing and warehousing tenants.
“Columbia Gateway has the potential to help drive economic growth in the Portland metropolitan area,” said Brian Cornell, Walker & Dunlop Investment Partners’ Managing Director. “The property’s strategic location in a supply-constrained submarket along Portland’s key transportation corridors will help an updated Columbia Gateway attract best-in-class users.”
Oak Park Investments acquired the property with Walker & Dunlop Investment Partners for $14.4 million.
About Oak Park Investments: Oak Park Investments is a Los Angeles-based commercial real estate investment firm with a specialized focus on acquiring industrial and multifamily properties and growing a portfolio of assets in select target markets throughout the Western United States. Oak Park’s team brings 20+ years of real estate investment and management experience having acquired a diverse real estate portfolio totaling more than $700 million, consisting of multifamily, industrial, retail, office and hospitality assets.
About Walker & Dunlop Investment Partners: Walker & Dunlop Investment Partners (“WDIP”) is a real estate private equity firm which manages capital on behalf of endowments, foundations, pension plans, private funds, insurance companies, family offices and high net worth individuals. WDIP invests debt and equity capital in value-added, opportunistic, distressed, and special situation transactions through a series of private funds, joint ventures and separately managed accounts. WDIP is a wholly owned subsidiary of Walker & Dunlop, Inc. (NYSE: WD), one of the largest commercial real estate finance and advisory services firms in the United States. Our ideas and capital create communities where people live, work, shop, and play. The diversity of our people, breadth of our brand and technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.