Wapato Jail’s New Owner Says He’s Sold a Stake in the Property (Already) to Real Estate Magnate Jordan Schnitzer

Marty Kehoe, who knocked the county down to a $5 million sale price, found a partner with deep pockets.

By Rachel Monahan
(Harsch/RobertHubner)

Stories worth knowing. Reporting worth supporting. Willamette Week's biggest fundraiser of the year is underway. Help fund independent reporting that is free for everyone.

Give today. Keep the stories coming.

Support WW.

The developer who bought Wapato, the never-used Multnomah County jail, for $5 million last week, says he has already sold a stake in the property.

Marty Kehoe described the arrangement as taking on a partner: the well-heeled property magnate Jordan Schnitzer, CEO of Harsch Investment Properties, is investing alongside Kehoe.

The property will be owned through trusts, Kehoe tells WW. He declined to disclose a dollar figure or any other specifics of the investment Schnitzer is making.

Kehoe also claims he isn't sure who would be majority owner after the deal because of the complicated nature of the arrangement.

Schnitzer did not immediately respond to a request for comment.

Schnitzer's involvement makes sense from a business perspective. Harsch Investment Properties, Schnitzer's firm, owns or operates 24 million square feet of commercial real estate spread across 100 properties in six western states.

"[Schnitzer's] coming in as a partner, and he's going to manage it," Kehoe says. "We look forward to developing it to its highest and best use."

Explore more on:

Multnomah CountyWapato

Rachel Monahan

Rachel Monahan

Rachel Monahan joined Willamette Week in 2016. She covers housing and City Hall.

Willamette Week reports the stories worth knowing, from City Hall to the people and places shaping Portland.

Help keep the stories coming by supporting WW on Give!Guide.

Support WW.