Case Study
Overview
Foundry represented Concordia University Portland in a major campus sale to The University of Oregon to expand their Portland presence.
Location
Portland, OR
University Campus Sold
Arguably, one of the sectors most impacted by COVID-19 was education, having to change course on several occasions to accommodate varying learning needs throughout the country. On college campuses where thousands of students not only study but many also live, administrators were tasked with ensuring the safety of students who could quickly spread the virus in a close-knit environment. And while this meant that some colleges and universities had to make the difficult decision to close the doors to their physical campuses, these closures also presented opportunities for new programs to arise to meet the needs of today’s evolving communities.
Having handled the sale of a number of university campuses in various states over the past 10 years, Foundry Commercial’s Matt Messier, SIOR, CCIM, who leads the company’s Religious, Educational, and Non-Profit practice, represented the Lutheran Church Extension Fund (LCEF) – owner of the northeast Portland Concordia campus – in a recent sale to the University of Oregon. The campus will be the new home of the Ballmer Institute for Children’s Behavioral Health, a first-of-its-kind children’s mental health center aimed at addressing children’s behavioral and mental health issues that have become even more evident since the start of the pandemic. The 19-acre campus features over 395,000 square feet in 23 buildings.
“LCEF was intentional in finding a buyer for this property that would serve in the best interests not only of the immediate surrounding community, but of children and families that will be impacted by the positive outcomes to come out of the Ballmer Institute for Children’s Behavioral Health far into the future,” said Messier.
The sale spanned multiple practice areas across Foundry’s platform – the Religious, Educational, and Non-Profit group partnered with Rick Helton and Ally Lanahan of Foundry’s Investment Advisory Group (IAG), which assisted the Religious, Educational, and Non-Profit group in preparing the marketing materials required to sell an entire college campus in addition to helping advise LCEF during the sale process.
At the Ballmer Institute, the University of Oregon will offer new degree and certificate programs for childhood behavioral and mental health issues. Additionally, the Institute will connect university research programs with Oregon public schools and community support groups to create intervention and treatment programs students in grades K – 12. The Institute, which plans to hire approximately 20 new faculty members, also hopes to bring at least 200 behavioral health practitioners into Oregon public schools to work directly with students.
“The purchase of our new campus, UO Portland, is one of the most important developments in the long and storied history of the University of Oregon,” President Michael H. Schill said. “In addition to housing The Ballmer Institute for Children’s Behavioral Health, we anticipate UO Portland to house many other partnerships with local institutions and the community which will educate and improve the lives of young people in the city of Portland, our state and our nation.”