HP Investors LLC of San Diego has acquired a mixed-use commercial property in downtown Portland, Ore., for $12.9 million, the company announced.

Officials said the purchase, in Portland’s Pearl District, marks the company’s first purchase in that city. It is HP Investors’ 24th acquisition of the past four years.

The four-story Portland building, in the city’s historic warehouse district, includes creative office space above ground-floor retail with a dedicated parking garage. The property is fully occupied by tenants including Sherwin Williams and Kaplan Education.

Led by President Harki Parekh, HP Investors owns primarily West Coast urban retail, office and mixed-use assets, with several properties and development projects in the local market. It has offices in La Jolla and Oakland.