Big Pink buyer Jeff Swickard has doubled down on his Portland bet.
Swickard, chief executive of the Swickard Auto Group with $3 billion in annual sales, made headlines this summer when he acquired Portland’s largest office tower, Big Pink, for a stunning $45 million — a sliver of its prior sale price a decade ago — and with plans to spend big on renovations to draw new tenants into the languishing skyscraper.
Now, the Nevada-based auto magnate and University of Oregon graduate is spending even more on a business more squarely in his wheelhouse: BMW Portland near Providence Park.
Swickard Auto Group said it acquired the Goose Hollow dealership from Medford-based Lithia Motors this week for approximately $70 million.
“This purchase is a personal and professional investment in Portland,” Swickard said in a news release. “Portland has been a part of my life for decades, and this is my way of investing in its future.”
Swickard Auto Group operates dealerships in Oregon, California, Alaska, Washington and Hawaii. In Oregon, its dealers include Mercedes-Benz of Wilsonville, BMW of Eugene and Gresham Toyota.
The company said many BMW Portland employees would remain at the dealership at 2001 S.W. Jefferson St.
“We are excited to welcome the team and customers into the Swickard family,” the CEO said.