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Coming out of the 2008-2010 economic crisis, Rael Corp sourced several properties in Portland, Oregon, acquired at attractive prices and repositioned. One of the assets, Elaine Station, was a failed mixed-use condo project which Rael Corp acquired directly from a bank and converted to a mixed-use multifamily/live-work rental property.
Another asset, situated adjacent to Portland State University, was rebranded and fully repositioned as student housing. Other assets included mismanaged value-add multifamily properties, all of which Rael Corp successfully repositioned and exited between 2015 and 2018.
