Mt. Hood Railroad sold to Chicago firm

Mt. Hood Railroad sold to Chicago firm The historic short-line Mount Hood Railroad, located about 60 miles east of Portland, Ore., has been sold to the rail subsidiary of a Chicago-based holding firm for an undisclosed sum.
   In operation for more than 100 years, the Mt. Hood rail line runs for 22-mile between Hood River and Parkdale.
   Popular as a tourist excursion line and private charter run traveling through the scenic Hood River Valley, the railroad also operates year-round as a freight line.
   The railroad was sold to Permian Basin Railways, a subsidiary of Chicago-based Iowa Pacific Holdings.
   Permian Basin Railways was formed by Iowa Pacific Holdings in May, 2002 to purchase the Texas-New Mexico Railroad and the West Texas & Lubbock Railway, collectively referred to as the Permian Basin Railways. In addition to the two Texas lines, PBR acquired the Arizona Eastern Railway in December 2004 and the San Luis & Rio Grande Railroad in December 2005.