01/03/2013 02:48 EST | Updated 03/05/2013 05:12 EST

Imperial Parking buys Oregon parking lot company City Center Parking

VANCOUVER - Imperial Parking Corp. said Thursday it has bought City Center Parking, a parking management company based in Portland, Ore., that operates 198 lots.

Financial terms of the deal were not disclosed.

Under the deal, City Center Parking's managing partners, Greg and Mark Goodman, will continue to be involved in the business.

"We have every confidence that Impark is an extremely capable custodian for the company going forward, so much so that we agreed to enter into long-term operating contracts with Impark to manage all 28 of our family's properties used for parking," Mark Goodman said in a statement.

City Center owns parking lots in Portland and Salem, Ore., and Vancouver, Wash.

Imperial Parking is one of the largest parking lot companies in North America with some 2,300 locations, and 4,000 employees.