Deal Watch: a real deal for art in Portland


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Hallie Ford, timber baron widow and co-founder of the Ford Family Foundation, died last month at age 102. But before she passed on she put her mark on Portland with a gift so big it left arts fundraisers across the state breathless.

 

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Hallie Ford, timber baron widow and co-founder of the Ford Family Foundation, died last month at age 102. But before she passed on she put her mark on Portland with a gift so big it left arts fundraisers across the state breathless.

Ford’s $15 million donation is startup capital for the Pacific Northwest College of Art’s Ford Institute for Visual Education. Called FIVE for short, it’s an ambitious program that will launch Masters of Fine Art degree programs at the Pearl District art school and recruit big-name artists as visiting faculty. 

Under president Tom Manley, PNCA has lined up an advisory council of creative business leaders who all wax poetic about the impact that this new program will have on Portland and on Oregon.

“What we’ll see as a community is excellence. Interesting people are attracted to vital communities,” says Brad Cloepfil, founder of Allied Works Architecture. and a PNCA fan. “And that makes it easier to hire people, which is no picnic, by the way.”

Cloepfil sees FIVE  as an important continuation of a focus in Portland on what he calls the city’s “creative capital.” 

Of course, funding and conception is just the beginning, points out John Jay, another PNCA adviser and creative director at Wieden+Kennedy. To make a name for the FIVE program worldwide — which will be key to recruiting top-shelf artists to come teach at the school and live in Portland — will take strategic marketing. But thanks to the late Mrs. Ford at least PNCA has some cash to get started. 

— Christina Williams

REAL ESTATE TRANSACTIONS
ANNOUNCEDBUYER (HQ)REAL ESTATE (LOCATION)SELLERPRICE
26-AprBroadway Burnside (Portland)retail location (Portland)Katsam LLC (WA)$2.2m
30-AprGuardian Management LLC (Portland)Arbor Park Apartments (Vancouver, WA)ND$11.5m
7-MayNBS Real Estate Capital (Portland)/Morrison Street Fund II LPoffice bldg. (CO)ND$8.63m
9-MayThe Cundari Family LLCindustrial bldg. (Portland)Mark R. Madden (Beaverton)$1.1m
9-MayJER Partners/J.E. Robert Cos. (VA)former TN Building (Portland)Fountain Village Development LLC$9m
13-MayPine Tree Institutional Realty LLC (IL)Hazel Dell Town Center (Vancouver,WA)Kimco Developers (CA)$59.8m
14-MayCharter Construction (WA)office bldg. (Portland)Julie and Rick May (Tigard)$985,000
16-MayDHS LLCoffice bldg. (Tigard)Central Bethany Development (Portland)$1.85m
18-MayVanderhouwen & Associates (Portland)Beall Macadam Building (Johns Landing)Beall Macadam Building LLC (Johns Landing)$2.07m
21-MayStandard Steel Property LLC (Portland)3.18-acre parcel (Portland)Hill Investment Co. (AZ)$4.8m
22-MayRealNet Investments LLC (Portland)Bandera Trails Shopping Center (TX)NDND
22-MayNBS Real Estate Capital (Portland)/Morrison Street Fund II LPCenterpointe Business Park (WA)ND$11.5m
23-MayLane County (Eugene)Charnelton Building (Eugene)Oregon Development LLC$7.9m
29-MayOpus Northwest LLC (MN)14-acre site (Fairview)Sandy Blvd. Development Associates (Fairview)$2.9m
29-MayForest Rim VAF LLCForest Rim Apartments (Tualatin)I&G Tualatin LLC (Tualatin)ND

CAPITAL RAISING
ANNOUNCEDCOMPANY (HQ) / LEADERSHIPINVESTORPRICETERMS
10-MayMathStar Inc. (Hillsboro)/ Doug Pihl, chairman, president & CEOpublic offering$25mequity
15-MayNW Hayden Enterprises (Tualatin)/ Bill Hayden and Richard Arthur, co-ownersAequitas Capital Management$1.175mequity
16-MayBend Tarp and Liner (Bend)/ Brad and Jan Elliott, co-ownersBrad Everett, investor$3.5msale-leaseback
22-MayPacific Northwest College of Art (Portland)/ Tom Manley, presidentHallie E. Ford, co- founder, Ford Family Foundation$15mcharitable gift
23-MayStanCorp Financial Group (Portland)/ Eric E. Parsons, president & CEOpublic offering$300mdebt
29-MayEvolution Family Holdings LLC (Portland)RKM Development LLC$1.7msale-leaseback

MERGERS AND ACQUISITIONS
ANNOUNCEDEXP. CLOSEBUYER (HQ)SELLER (HQ)/PARENTPRICE (TERMS)
10-MayQ3 ‘07Barrett Business Services (Vancouver, WA)Strategic Staffing (UT)$12m (cash + earn-outs)
15-MayQ1 ‘07OCP (Portland)Liturgical Publications of St. Louis (MO)ND
23-MayQ2 ‘07Planar Systems (Beaverton)Runco International (CA)$36.7m (cash)
24-MayQ2 ‘07Xerox Corporation (CT)Copytronix (Portland)/Global Imaging Systems (FL)ND
25-MayQ2 ‘07NPG of Oregon (Bend)/News-Press & Gazette Company (MO)KFXO-LP (Bend)/Meredith Corporation (IA)ND

List researched by Mark Druskoff

ND=Not disclosed

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