Green Courte Partners Expands Footprint with New Portland Investment

Green Courte Partners Expands Footprint with Strategic Acquisition

Green Courte Partners, LLC, a prominent private equity real estate investment firm based in Chicago, has made significant strides in the industrial real estate sector with the recent acquisition of a 14-acre industrial outdoor storage (IOS) property located at 4450 NE Buffalo Street in Portland, Oregon. This acquisition, executed through their sixth investment fund, Green Courte Real Estate Partners VI, LLC, underscores the firm’s commitment to expanding its portfolio of niche real estate assets.

The chosen property, strategically located in the Airport Way submarket, offers an advantageous proximity to the Portland International Airport. This particular area is characterized by limited supply, making the acquisition not only timely but also strategic, focusing on an infill market where developable land is becoming increasingly scarce. The site features 12,200 square feet of existing building coverage and boasts excellent accessibility to major highways, including Interstate 5 and Interstate 205, which are crucial for logistics and warehousing operations.

Jordan Kerger, Managing Director at Green Courte, emphasized the strategic nature of this acquisition. He stated, "This acquisition aligns with our strategy of investing in infill IOS locations. The Airport Way submarket has very limited land that can accommodate IOS uses, and this property provides Green Courte an attractive opportunity to establish a presence in the Pacific Northwest."

Green Courte’s plans for the property include comprehensive upgrades to enhance its functionality. Proposed improvements comprise enhancements to paving, fencing, lighting, and security measures, positioning the site as an institutional-quality IOS facility. These developments are anticipated to significantly benefit future users of the site, as well as the surrounding industrial community.

Dan Reichenbach, the representative for the seller in the transaction, expressed satisfaction with the transition of ownership. He mentioned, "We have operated our business on this site for many years, and we are pleased to see the property transitioning to a long-term investor who recognizes its future potential. Green Courte's planned improvements will benefit both future users of the site and the surrounding industrial community."

Green Courte Partners, LLC, with its focus on niche real estate sectors, holds a diverse portfolio that includes sectors such as active-adult/independent senior living, land-lease communities, and near-airport parking. With a disciplined approach to investment and asset management, Green Courte continues to seek high-quality real estate assets that promise attractive risk-adjusted returns.

As Green Courte Partners embarks on this new chapter with the acquisition in Portland, it reinforces its status as a key player in the industrial real estate market. The strategic location and planned enhancements embody the firm’s vision to not only grow their investment portfolio but also to contribute to the logistics and warehousing landscape in the Pacific Northwest region.

For more details and insights into their operations and future endeavors, visit Green Courte’s official website.