Laird Norton Properties (LNP) is a Seattle-based real estate investment firm that owns and operates a national portfolio.  It is a wholly owned subsidiary of Laird Norton Company (LNC), a 160-year-old, seventh-generation family enterprise with significant investments in consumer and financial companies.  Backed by an experienced team of real estate professionals, Laird Norton Properties provides the flexible capital, thoughtful structures, and diligent management required to successfully execute on strategies across the yield-spectrum.

What began in 1855 as a frontier logging operation in the Minnesota wilderness has evolved into one of the longest-standing family enterprises in the United States. Today, the Laird Norton name represents a company with diverse interests and more than 400 family shareholders. One of Laird Norton Company’s most successful investments was in Lanoga Corporation, the nation’s third largest professional building materials dealer at the time. After 40 years of management, Laird Norton Company sold Lanoga Corporation in 2006, but retained the real estate assets, creating a national portfolio of 262 fully leased light-industrial, retail, and commercial properties in 23 states, owned and managed by the newly formed Laird Norton Properties. 

In 2010, Laird Norton Properties began an initiative to strategically diversify its real estate portfolio through the acquisition of Class-A office and multifamily property investments of more than $300 million in twelve assets located in Seattle, Portland, Denver and Salt Lake City.  

In 2017, Laird Norton Properties entered the development space with the formation of a $500 million programmatic joint venture with Seattle-based Spectrum Development Solutions. The platform targets opportunities throughout the Puget Sound region to develop student housing and workforce multifamily assets affordable to renters earning 60% to 120% of area median income. The venture is currently underway on three development projects in various stages of planning and completion. 

Today, Laird Norton Properties is the Laird Norton Company’s largest investment, with holdings of more than $700 million distributed throughout the Midwest and Western United States.

INVESTMENTS & PARTNERSHIPS

LNP invests in high-quality properties and select development opportunities in the Seattle, Portland, Denver and Salt Lake City markets.   

Asset Management
LNP are hands-on stewards of our investments, bringing strong asset management expertise to our underwriting and execution. Since creating the $300 million Lanoga portfolio in 2006, LNP has taken a proactive approach to the asset management of the diverse portfolio by repositioning properties and actively managing leasing, operations, and dispositions.

Joint Ventures
LNP has a strong track record of developing programmatic long-term relationships that provide our partners with access to a flexible source of capital, enabling them to be active and agile in their markets.  LNP invests its own capital, giving us flexibility in our investment and joint-venture structures.  We have the ability to recapitalize existing assets or portfolios as well as to provide capital for new opportunities.  LNP can take a long-term or a short-term perspective and has the ability to invest throughout market cycles

Developments
LNP is interested in select development opportunities, including sites fitting its existing workforce and student housing programmatic venture with Spectrum Development Solutions and new opportunities to venture with best-in-class development partners showing deep expertise in target western markets.

Investment Focus

Size
Equity requirements smaller than typical institutional investment thresholds ($10 to $25 million total equity per property, with total deal size targeted at $25 to $75 million)

Product Type
Office, Multifamily, Mixed-Use, and Industrial

Risk Profile
Core, core-plus, and value-add assets (Class B or better)

Return Profile
Bias towards strong cash flow

Geography
Primary and Secondary MSAs in the Western U.S. Currently invested in Seattle, Portland, Denver, and Salt Lake City.

Structure
Direct investments or joint ventures as either Co-GP or LP

Building on an initial legacy portfolio of industrial and commercial assets, LNP has increased the portfolio’s value through targeted acquisitions, active asset management and select partnerships with leading real estate operators and developers. LNP’s current portfolio is a diverse national assemblage of industrial, retail, office and multi-family properties valued at more than $700 million.

­The LNP team includes a vertically integrated investment team with in-house transaction, development, asset management, and portfolio management expertise.  The team takes an active, collaborative approach to working with partners while also being hands-on asset managers and stewards of the investments within the portfolio.