“Portland-based company has snapped up a property near Northeast Sandy Boulevard in the latest demonstration that developers see strong bones for future growth in the midcentury auto corridor. NBP Capital has purchased the former Sunshine Dairy building and adjacent properties totaling 1.2 acres for $8.1 million, and is now looking to develop it.”
In yet another acquisition, NBP Capital plans to redevelop Sunshine Dairy site in Northeast Portland
“Portland’s NBP Capital Partners continued its extensive run of acquisitions in the Rose City this week, this time picking up the former Sunshine Dairy Building in Northeast Portland.
The locally based real estate investment fund, whose passive capital partner, Berggruen Properties, is based in Los Angeles, bought the property for $8.1 million. The prior owners were the California company Karamanos Holdings Inc. John Karamanos founded Sunshine Dari in the 1930s.”
The same real estate investors who bought the Multnomah County courthouse,two office buildings in Old Town Chinatown, a sizable multifamily project in RiverPlace and several other Portland properties in recent years have added three more buildings to their local portfolio. Portland-based NBP Capital has acquired the three-building creative office complex known as the East Bank Lofts. NBP acquired the properties from East Bank Properties LLC, which is managed by Bradley Taggart, for $13.4 million.
West Coast-based R&A Architecture + Design has fused two buildings on the national historic register in downtown Portland, Oregon, to create a new “house of welcome” for the city.
“The handsome bones of both buildings have been repointed and reinforced, right up to the metal mansard roofs, while the interiors shine with brass inlays, black lacquer and hand-blown glass lights, alongside grey timber floors, 10ft-long leather sofas, and steel and wood spiral staircases in the 20ft-high loft suites on the third story. This being Portland – a gastronomic hotbed par excellence – it’s no surprise that the kitchen, headed by Doug Adams, is in top form, sending out dishes like a smoked chicken paired with stacks of home-made tortillas, guacamole and green salsa, and dry-aged beef burgers cocooned in twice-cooked onions, butter pickles and mustard mayonnaise.”
“The interiors were as thoughtfully considered as the exteriors. “We look at interior design like architects. Each room is treated as a smaller, individual project,” explains Christian Robert, R&A Architecture + Design co‐founder and principal. The result is a dialogue between all of the spaces: each with a unique look, yet still collectively complementing one another….Supple leather, sleek lacquer, and plush velvet are combined to create a unique sensory experience for guests. “Everything you touch in the guestrooms has been considered. It’s about the unexpected textures,” says Brooks Atwood, design director at R&A Architecture + Design.”
“Portland-based property management firm Templeton… announced that veteran real estate industry executive Christopher Koegel has been named President of Property Management. Templeton is the property management arm of NBP Capital, a privately-held commercial real estate fund with a focus on value-add, opportunistic investing primarily on the West Coast. “
“Downtown Portland’s historic Cornelius Hotel, headed for demolition in 2013, will instead reopen Saturday as a 150-room boutique hotel in combination with its next-door neighbor, the Woodlark Building. Together, they’ll be known as Woodlark House of Welcome.”
“About two months after the county board of commissioners voted to approve the sale, the deal officially closed on Nov. 14. Local real estate investment firm and developer NBP Capital paid $28 million for the building. … NBP is planning on renovating the more than 100-year-old building and converting it into creative office space. The entire building is about 323,500 square feet, though the rentable square footage won’t be determined until after the renovation.”
“Portland, Oregon-based NBPCapital applied for permits for the project on a 66,500-square-foot lot at 200 Mesnagers Street. The permits call for a seven-story building. The firm has said the project would be 266,300 square feet. It acquired the property in August for $15.2 million.”