East Brown Cow acquires Exchange Street real estate portfolio for $13M

By Laurie Schreiber, MaineBiz

In the Old Port, 45 Exchange St., dating back to 1867, was part of a portfolio acquired by East Brown Cow for $13.45 million.

East Brown Cow, a real estate investment, development and management firm in Portland, said Tuesday it acquired four historic buildings on lower Exchange Street in Portland for $13.45 million.

The deal was brokered by Joe Malone of Malone Commercial Brokers for the buyer and Jim Harnden of Harnden Commercial Brokers and Avison Young for the seller.

The seller was the Goldy Family, which had owned the properties since 1992.

“The owner's decision to sell these assets presented an ideal opportunity for the buyer to further develop their portfolio within the sought-after neighborhood of the Old Port while investing in the history and preservation of these three properties,” said Joe Malone.

The acquisition was finalized on Sept. 19.

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