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.

Recent Kerley River Road Acquisitions in Keizer

The owner and president of Commercial Property Resources, Inc., Paul Kerley has spent nearly four decades as a real estate professional operating throughout the Salem, Oregon, region. His portfolio is comprised of approximately 1,500 residential units. Through his single entity Kerley River Road, LLC, Paul Kerley recently acquired multiple properties in Keizer, Oregon, just north of Salem.

Keizer’s River Crest Apartments complex, located at 127-177 Sunset Avenue North, consists of 11 units that range from one-bedroom, one-bath arrangements to two-bedroom, one-bath options. Kerley River Road was represented by Gabe Johnson of SMI Commercial Real Estate, LLC, throughout the transaction, which was valued at $1.5 million.

Mr. Johnson of SMI served as principal broker for another recent transaction, a $1.05 million acquisition of River Road Apartments. The six-unit complex is made up of all two-bedroom, one-bath, multi-family units. The property, located at 4133-4143 River Road North in Keizer, also includes a 1,700-square-foot commercial office building on site.

Commercial Property Resources Rejuvenates Albany Apartment Community

As owner and president of Commercial Property Resources, a real estate management firm based in Salem, Oregon, Paul Kerley leads the administration of approximately 1,000 residential units throughout the state. Paul Kerley founded the company in 1983, and has since owned and managed as much as $70 million in residential real estate in Salem, Cottage Grove, Hillsboro, Eugene, and various other Oregon communities.

In 2007, Mr. Kerley and his firm helped to rejuvenate a neighborhood in Albany. He purchased the property, an aging housing complex originally known as Valley Pointe Apartments, in May 2007, immediately changing its name to Albany Meadows. This initiated an extensive renovation project that completely transformed the once-rundown community. Originally built in the 1970s, the complex’s one-story buildings received approximately $1.5 million in renovations, including several improvements aimed at increasing energy efficiency. These upgrades included new insulation, sliding patio doors, and double-pane windows, as well as new roof vents and bathroom ventilation fans. Commercial Property Resources also installed 100 new stoves and refrigerators, as well as updated washing machines and dryers.

Mr. Kerley’s improvements were also directed toward increasing resident safety and quality of life. In addition to adding solar heating to the community pool and building additional community laundry facilities, he hired a full-time security guard and implemented a video security system. The renovation project also included the installation of automatic lights on patios and throughout the parking lot. These improvements led to a noticeable increase in the security of the complex, with Albany police reporting a sharp decline in resident service calls following the renovation.