Goldman Sachs Affiliate Acquires Portland-Area Asset
- Feb 04, 2019
Goldman Sachs Asset Management Private Real Estate (GSAM PRE) has acquired Trio Pointe Apartments, a 240-unit apartment community near Portland, Ore. The deal marks GSAM Pre’s 23rd multifamily investment in the U.S.
Trio Pointe Apartments is located in Camas, Wash., about 20 miles northeast of downtown Portland. The community was built in 2018 and features modern interior finishes, including 9-foot ceilings, quartz countertops, vinyl plank flooring and stainless steel appliances.
Comprising a mix of one-, two- and three-bedroom units, the community is situated at 19600 NE 3rd St., within walking distance to the local elementary, middle and high schools, as well as a new neighborhood retail center with a variety of dining and shopping options. Resident amenities include a pool and spa, fitness center, business center, garage parking, dog park and playground.
“The property offers an attractive option for families in search of a high-quality home ownership alternative in a location convenient to both Camas and Portland,” said Joseph Sumberg, co-head of GSAM PRE, in prepared remarks. “We are excited about the opportunity to acquire a well-located, newly-built property that offers residents a community with modern finishes, spacious unit layouts, modern amenities, and walkable proximity to retail amenities and well-ranked schools.”
Portland’s strong economy and positive demographics have contributed to a growing demand for rental housing, especially in the workforce category, according to Yardi Matrix Data from 2018.
Image courtesy of Goldman Sachs Asset Management Private Real Estate