Pathfinder Partners Sells Portland Community
The property opened in 1978 and last traded nearly a decade ago.
Pathfinder Partners has sold The Habitat Apartment Homes, an 85-unit apartment property in Portland, Ore., for $18.85 million, or $221,760 per unit. Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer, Crown Point Real Estate.
Both the price per unit and price per square foot rank among the highest for 1970s-built apartment properties sold in the Portland area over the last five years.
Manufacturers and Traders Trust Co. originated a $12.3 million Fannie Mae loan for the sale, according to Yardi Matrix information. The loan matures in 2031.
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The property last traded nearly a decade ago, in 2017, Yardi Matrix data shows. At the time, FPA Multifamily sold it to Pathfinder Partners for $15.3 million, or $180,000 per unit.
Previously known as Ivy Lake Court, the 11-building Habitat opened in 1978 at 5745 SW Oleson Road. Within Washington County border and 6 miles of downtown Portland, the community has easy access to Oregon Health & Sciences University, Nike World Headquarters and Intel via Oregon Route 10. Multiple parks are within walking distance, with a few dining and retail options close north.
Close up on Habitat
The unit mix features studio, one- and two-bedroom apartments ranging from 1,236 to 26,880 square feet. Previous ownership completed renovations and upgrades on roughly 40 percent of the units. All apartments comprise washer and dryer hookups, while also encompassing private balconies or patios.
Shared amenities at the pet-friendly community include a fitness center, a clubhouse, a swimming pool, three laundry facilities and some 160 parking spaces at grade level.
Institutional Property Advisors’s Senior Directors Anthony Palladino and Ryan Harmon, Senior Managing Directors Philip Assouad and Giovanni Napoli and Associate Nick Ruggiero, in association with David Tabata, Marcus & Millichap’s broker of record in Oregon, represented the seller.
IPA Capital Markets’ Executive Managing Director Brian Eisendrath, Senior Managing Director Cameron Chalfant and Managing Director Jake Vitta oversaw acquisition financing.
Portland sales volume meets significant drop
There are 78 other properties within a 3-mile radius from the asset, same data provider shows, out of which just one other has changed hands in 2026. Cedar Square, a 142-unit community at 10480 SW Eastridge St., traded in March when Glencrest Group acquired it for $29.85 million.
Portland’s multifamily transaction activity totaled $77 during the first quarter of 2026, a recent report shows. This marked a significant downturn from the same time last year, when sales totaled $430 million. The metro recorded $1.3 billion in sales in 2025, below the $1.6 billion average of the past five years. The average price per unit was $201,719, close to the U.S. average of $201,563.
