SKB & RGA Joint Venture Buys Portland, Ore., Industrial Campus

Porland, Ore.,-based real estate merchant bank ScanlanKemperBard (SKB) partnered with Reinsurance Group of America subsidiary RGA ReCap Incorporated to acquire Columbia River Collection — an eight-building industrial project located along the Columbia River corridor in the Portland metro area.

Underscoring SKB’s continued confidence in the market’s long-term fundamentals and the significant role of industrial real estate in supporting the region’s economy, this purchase marked the bank’s third acquisition in the Portland metropolitan area in recent months.

Columbia River Collection incorporates more than 513,000 square feet of Portland industrial space and is situated within one of the most well-established industrial corridors in the region — a location that offers proximity to regional transportation infrastructure, as well as Portland’s core employment base.

“This is our home, and we continue to believe deeply in Portland over the long term,” said Todd Gooding, president of ScanlanKemperBard. “The city has a talented workforce and a strategic location that will continue to matter. We believe Portland can, and will, find the right balance between economic development and the services that support its residents.”

The new owners announced plans to operate the property with a focus on long-term value creation, which is in alignment with SKB’s broader approach across its portfolio — a growing collection of well-positioned industrial assets that serve a wide range of production, manufacturing, distribution, and employment uses.

“The pullback by institutional capital has created opportunities for disciplined local investors who remain committed to Portland and its long-term growth potential,” said Dixon Hinderaker, vice president of acquisitions at SKB. “For groups like SKB, we know these submarkets well and are committed to operating here through market cycles. The Columbia River Collection is a portfolio of well-located, functional industrial assets positioned to serve Portland’s most active tenant base of users under 50,000 square feet.”

According to data analyzed for CommercialCafe’s U.S. industrial report, sales of industrial properties in Portland totaled about $557 million in 2025, and transactions closed here last year averaged nearly $171 per square foot. At the close of the year, nearly 3.5 million square feet of new industrial space was in development, which represented one of the most significant year-over-year pipeline expansions in the region — roughly 1 million square feet more than the nearly 2.5 million square feet that developers had under construction in December 2024.