Nineteen acre campus will be new home to University of Oregon’s Ballmer Institute for Children’s Behavioral Health
(EDITOR’S NOTE: According to published reports, the acquisition price of $60 million was approved in March of 2022.)
PORTLAND, Ore. – June 29, 2022 – Colliers, a leading diversified professional services and investment management company, in partnership with Foundry Commercial, a full-service commercial real estate firm headquartered in Orlando with a specialized division exclusively serving religious and educational groups throughout the country, finalized the sale of the former Portland Concordia University campus to the University of Oregon. The 19-acre, 23-building campus will be transformed into a first-of-its-kind children’s mental health center dedicated to addressing children’s behavioral and mental health crises, which have become even more evident since the start of the pandemic.
The firms were retained by the Lutheran Church Extension Fund (LCEF) in July 2021 to secure a buyer that would understand and preserve the campus’ role in the community. Colliers’ Mike Holzgang, Scott MacLean, and Sean Worl along with Matt Messier, SIOR, CCIM and Rick Helton of Foundry Commercial represented LCEF. Chris Johnson, also with Colliers, represented the University of Oregon.
“We are so pleased to have presented LCEF with this opportunity from the University of Oregon,” said Holzgang. “The Concordia campus has been a source of community and connection for the surrounding neighborhood for decades, and it was important to us to find a buyer that would protect that legacy. We look forward to watching The Ballmer Institute’s impact on the neighborhood and on the greater Portland community. “
“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 that will come out of the Ballmer Institute for Children’s Behavioral Health for decades to come,” added Messier.
The former Concordia University campus has a Campus Institutional 1 (CI1) zoning ordinance, providing for the establishment and growth of large institutional campuses located in residential neighborhoods. Permitted uses include learning facilities, such as a university or higher educational institution, or a medical center. Through a generous $425 million donation from Ballmer Group Philanthropy, co-founded by Connie and Steve Ballmer, the University of Oregon plans to transform the campus into the brand-new Ballmer Institute for Children’s Behavioral Health. Besides addressing childhood behavioral and mental health issues, the new campus will support the creation of a new degree and certificate programs and connect university research programs with Oregon public schools and community support groups to create intervention and treatment programs for struggling K-12 students. The University of Oregon plans to hire approximately 20 new faculty members and hopes the Institute will bring at least 200 behavioral health practitioners into Oregon public schools to work directly with students.
The campus’s 23 existing structures and facilities including 395,346 square-feet of classrooms and learning spaces, administrative offices, a 1,775-seat stadium with a baseball diamond and soccer field built in 2011, an on-site cafeteria and eating area, a LEED Gold-certified library built in 2008, a 33,500-square-foot gymnasium and 513 beds of student housing will undergo renovations to support research, treatment, and more.
“This was an excellent acquisition for the University of Oregon,” Johnson said. “Not only does the Concordia Campus provide the space and infrastructure necessary to achieve the University of Oregon’s goals related to the Ballmer Institute and other Portland-based programs, it is located in the middle of a committed and engaged community that will no doubt provide invaluable support to the students who choose to further their education there.”
Colliers is a leading diversified professional services and investment management company. With operations in 65 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 26 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.6 billion ($4.0 billion including affiliates) and $46 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people.
About Foundry Commercial
Foundry Commercial is a full-service real estate services and investment company with over 420 employees and more than 60 million square feet of management and leasing across the Sun Belt. Since 2007, Foundry has provided leasing, brokerage, building management, corporate services, and project management services, and is the largest real estate service provider to religious and not-for-profit organizations in the country. Foundry also includes a development and investment platform that is fully integrated into its services business, leveraging its local market expertise to control more than $1.5 billion in advantaged investment opportunities with their JV partners.