Sequoia Equities Expands Portland Footprint
- Nov 22, 2016
by Adina Marcut
Portland—Sequoia Equities announced the acquisition of Eddyline at Bridgeport, a 367-unit, Class A community in Tualitin, Ore. Marking the company’s seventh aquisition in the Portland area, the sale increases the firm’s Portland-based holdings to more than 2,100 units. The community was completed in 2015 and is LEED Silver-certified. Eddyline at Bridgeport is comprised of 320,505 rentable square feet across three residential buildings in addition to 22,414 square feet across ten retail spaces.
The acquisition was facilitated by HFF. Sequoia will also be in charge of property management.
“Eddyline at Bridgeport presented an opportunity to acquire a core suburban asset, with an urban flair, located just 15-minutes from Portland’s CBD. Given the MSAs major employment drivers, relative affordability, and limited new supply, we were confident in the opportunity to attract and retain an exceptional demographic profile,” Pat Reilly, general partner & director of acquisitions with Sequoia, said in a statement.
The property’s amenities include a fitness center, lush grounds and trail access, outdoor barbeque station, pool deck with Wi-Fi and a clubhouse with gathering kitchen. Eddyline is located one block from Bridgeport Village, one of the area’s largest retail and entertainment destinations, with more than 100 upscale storefronts, restaurants, and grocers.
Images courtesy of Sequoia Equities