Meriwether Sells 4550 SW Macadam Office Building
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.
The building was acquired 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. Subsequently, Meriwether negotiated a 5-year lease extension with Fiserv EFT.
Meriwether Partners is a real estate investment firm with offices in Seattle and Portland. We form partnerships to acquire and manage real estate investments on behalf of the Meriwether principals, high-net worth individuals, family offices, and institutions.
Meriwether was founded in 2002 by Joel Aslanian and Robert Briscoe who have worked together since 1998. The company has acquired more than 2 million square feet of commercial real estate at a cost of over $350 million.
The firm’s primary investment focus is in the Seattle and Portland metropolitan areas. Meriwether invests in properties that are well-located with sound physical and economic fundamentals; properties that have the ability to generate attractive levels of distributable cash; and properties to which we can add value by executing recapitalization or repositioning strategies.