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Guardian Buys Pearl District Mixed-Use
Guardian, a Pacific Northwest multifamily operations, development, and investment firm, expanded its portfolio by adding The Louisa, a mixed-use property in the heart of Portland’s Pearl District.
Part of the Brewery Blocks redevelopment delivered in 2005, The Louisa includes 16 stories of luxury apartment homes and 30,000 square feet of retail space on the ground level home to brands like Lululemon, West Elm, and Williams-Sonoma.
“While the national perception of Portland is still largely negative, institutional capital sentiment is beginning to warm again,” said Brenneke. Guardian plans a comprehensive update of the apartments and all common areas. Restoring the value of the nearly 20-year-old building will help attract more people to live and do business in the Pearl District.
“PCCP, our joint venture partner, recognized the opportunity and shares our vision to reestablish The Louisa as the premier residential property in the Pearl District,” said David White, Senior Vice President of Acquisitions for Guardian.
