Gerding Edlen, Portland's well-know green developer, is expanding its business model by purchasing real estate properties at "fire-sale" prices and redeveloping them using a green model.
The developer is close to completing five deals to acquire redevelopment properties, which should be solidified in the next 30 to 60 days.
Gerding Edlen, which employs 40, is interested in downtown, transit-oriented properties in five target cities: Portland, Seattle, San Francisco, Los Angeles and Denver...
In 2009, it launched a $500 million private equity fund to raise money for real estate investments. The fund, Gerding Edlen Green Cities I LP, will continue to raise money through June 30, 2012.
Read more at Sustainable Business Oregon.