PORTLAND, OR—Woodside Palisades Partners, a new venture formed between Joaquin Charles de Monet of Palisades Capital Realty Advisors and two Silicon Valley investors, have purchased two Portland, OR, class-A office buildings at Cascade Station. Cascade Station is a mixed-use development considered to be the gateway to Portland International Airport.
The two buildings—Cascade Station I and II—comprise 127,000 square feet and are located at the site of a key light rail airport connector as well as a mix of big box and name brand-size retail, several restaurants and three hotels. Cascade I is LEED Certified Gold. Kevin Shannon of CBRE represented the sellers.
Woodside Palisades Partners is targeting value-add and core-plus quality assets in Western markets with strong yields and capital appreciation. The group is the sponsor and manager of the investment in the Cascade buildings and intends to make similar investments in the future.
“Our focus and expertise is on creating value in quality, income producing assets in high growth suburban markets located West of the Mississippi,” says co-founder, Joaquin Charles de Monet. “There is tremendous interest in this product from both US and international private investors.”
De Monet has also formed a similar partnership, Palisades Mexico Partners, with investor and long-time associate Sergio Arguelles of FINSA in Monterrey, Mexico. The two will sponsor a Mexico based Private Capital Fund on behalf of a group of high net worth individuals from Mexico and other parts of Latin America who recognize that the time is right for investment in the Western U.S. markets. The fund targets value-add class B, suburban assets, selectively marketed and below replacement costs, and currently have two properties under contract in Orange County and Phoenix that will closing in the next 60 days.
De Monet, the former executive of Arden Realty and GE Capital, has a long-standing track record in the US and Latin America, executing large equity and debt transactions and leading high performance global teams for major real estate investment and operating companies. To date, he has arranged and managed over $10 billion of real estate investments worldwide.
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