Mitsubishi UFJ Lease & Finance Company opened an MUL Railcars (MULR) office in Portland, OR. The new office will serve as the base of operations for the company’s railcar leasing business in the U.S.

MUL has steadily expanded its railcar business primarily through a strategic business alliance with The Greenbrier Companies (GBX), a U.S.-based international builder and supplier of railcar equipment and services. In order to keep pace with the growth of MUL’s rail business in the U.S., the company has committed to the establishment of a fully staffed office dedicated to its independent rail car leasing activity.

James T. Sharp was appointed president and CEO of MULR. Sharp has executive experience in railcar leasing, including multiple senior executive roles at GBX.

During this next phase of development, the group aims to expand its portfolio to hold 25,000 railroad cars by 2020, and position itself to grow into the top 10 companies in the U.S. railcar leasing market. MULR will continue to grow a diverse portfolio through primary and secondary acquisition channels and build a professional leasing organization that delivers competitive and comprehensive leasing.

Mitsubishi UFJ Lease & Finance Company is a global leasing company headquartered in Tokyo.