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Retail Developer Changes Name to Reflect Partner

PORTLAND, OR-One year after the California State Teachers Retirement System became Center Oak Properties new money partner, Center Oak principals Fred Bruning and Jean Paul Wardy change their company's name to CenterCal Properties.

By Brian K. Miller | Updated on December 22, 2005

PORTLAND, OR-Retail developers Fred Bruning and Jean Paul Wardy have changed their company’s name from Center Oak Properties to CenterCal Properties. The move comes one year after the California State Teachers Retirement System replaced Oaktree Capital Management as the company’s money partner.

The new name has been registered with the state since January, but the duo only recently made the name change official. January is when CenterCal LLC–the JV between CenterCal and Center Oak–made its first acquisition, the new Bridgeport Village development in Tualatin, OR, from a joint venture of Center Oak and Opus Northwest.

The CenterCal LLC joint venture was stoked with $105 million. CalSTRS put up $100 million and Bruning and Wardy put up $5 million. The JV will invest primarily in the development and repositioning of retail shopping centers on the West Coast.

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