January 17, 2013
Portland diocese buys first investment property
The Roman Catholic Diocese of Portland has made its first property investment with the purchase of a complex of retail stores on Portland's Congress Street.
The Portland Press Herald reported that the diocese purchased a retail center at 290 Congress St., anchored by a Rite Aid pharmacy, in December for $2.75 million.
Dave Guthro, spokesman for the diocese, told the paper that it is the first time the religious organization has acquired property in Maine for the purpose of turning a profit.
The center's previous owner, Owen B. Pickus, told the paper that he received higher offers from other potential buyers, but the diocese's offer was appealing because it did not depend on financing.
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