Purchases a Pair of Seaside, Buildings

Salem entrepreneur Paul Kerley leads Commercial Property Resources, Inc., and has pursued high value real estate transactions across Oregon. Paul Kerley maintains an extensive portfolio of managed rentals in Salem and also seeks out properties on the coast with significant upside potential.

Through One Ten Holdings, LLC, he coordinated the purchase of a pair of buildings in Seaside at 726-730 Broadway Street and 1 North Holladay Drive. With the acquisition brokered by Popkin Real Estate, LLC, the agreed upon price for the properties was $3 million. Wauna Federal Credit Union provided financing that enabled the deal to be completed.

As Mr. Kerley described it, One Ten Holdings had been seeking a purchase opportunity along the North Oregon Coast for some years. Securing the buildings in a historical downtown district presented a chance to join a “wonderful community.” The plan was to modify several spaces so that they met the requirements of current tenants, as well as those seeking competitive downtown rentals. Port Town Property in Astoria was hired to oversee the leasing process.

Commercial Property Resources

Based in Salem, Oregon, Paul Kerley is a longtime presence in the real estate investment sphere and directs companies such as Commercial Property Resources, Inc. One noteworthy acquisition Paul Kerley and his Salem, Oregon, team made was of the 25-space Highway Avenue Trailer Park.

The purchase from Investors Management Group NW of the property in at 1865 Highway Ave NE added to a commercial property resources portfolio that already includes the adjacent Whitman Park Apartments. The transaction was described as fitting well with Mr. Kerley’s investment strategy of buying and repairing properties with structural and other issues across the Willamette Valley. By turning around properties that are troubled and under-performing, he provides safe, desirable location for tenants to rent and call home.

Another local acquisition was of an apartment complex at 1575-1593 Broadway NE that has 10 one-bedroom, one-bath units. This two-story structure is located in convenient proximity to the city’s downtown area. The transaction was completed through Kerley Five Properties, LLC.