Guardian, a company specializing in multifamily operations, development and investment in the Pacific Northwest region, has recently expanded its portfolio with the addition of The Louisa. This mixed-use property is located in Portland’s Pearl District.
The Louisa is part of the Brewery Blocks redevelopment project that was completed back in 2005. It features 16 floors of luxurious apartment homes as well as 30,000 square feet of retail space on its ground level. Some popular brands such as Lululemon, West Elm and Williams-Sonoma have already established their presence at this location.
According to Brenneke from Guardian: “Despite Portland’s negative national image currently prevailing, we are seeing a positive shift among institutional investors.” In light of this trend, Guardian plans to undertake a comprehensive renovation project for both the apartments and common areas at The Louisa. By restoring value to this nearly two-decade-old building they aim to attract more residents and businesses to settle down in Pearl District.
David White who serves as Senior Vice President for Acquisitions at Guardian stated: “Our joint venture partner PCCP recognized an opportunity here that aligns with our vision – re-establishing The Louisa’s position as one of top residential properties within Pearl District.”
