PORTLAND, OR, October 1, 2015 – Meriwether Partners announced the $12.25 million sale of 4550 SW Macadam Avenue in Portland, Oregon to Kensington Investment Management.
Meriwether acquired the building in October 2010 at a price of $6.4 million. The acquisition was predicated on buying a well-located office building in an established sub-market at a price significantly below replacement cost. At the time of acquisition, Fiserv EFT leased the entire building on a short-term basis. Subsequently, Meriwether negotiated a 5-year lease extension with the tenant.