West
Portland Multifamily Report – Spring 2019
With more than 5,000 apartment units coming online in the metro in 2018, rents increased by 1.9 percent year-over-year through February—well below the 3.6 percent national average.
MAXX Properties Expands Holdings in Las Vegas Area
Villas at Green Valley, a 609-unit community in Henderson, Nev., is the company’s fifth property in the Las Vegas market and its largest multifamily acquisition to date in terms of size and invested capital.
Affordable KTGY-Designed Property Opens in the Bay Area
Pauline Weaver Senior Apartments includes 90 units. Eden Housing is the developer of the age-restricted community in the Warm Springs area of Fremont, Calif.
Tower 16 Capital Partners Buys Inland Empire Community for $63M
The value-add investment and management firm purchased the 352-unit asset in Colton, Calif., from FPA Multifamily and will invest an additional $4 million in renovations and upgrades.
Advenir Secures $191M for Three-State Portfolio
The investment firm acquired six residential communities totaling 1,843 units in Alabama, Colorado and Texas. HFF arranged the financing in the deal.
Portland Community Trades for $14M
Since acquiring the property in 2016, Pathfinder has made various renovations including new landscaping, corridors, new interior lobby, light fixtures, artwork and a new dog park.
Security Properties, Rockwood Capital Acquire Seattle-Area Asset
Taluswood in Mountlake Terrace is one of the largest garden-style apartment communities north of Seattle and will be managed by Security Properties Residential.
Starlight Adds $80M Arizona Community to Portfolio
The investment firm’s U.S. multifamily vehicle acquired the 282-unit luxury property in the city of Scottsdale from Sunridge Apartments, adding to its network of recently completed assets in Southern metro areas.
Storm-Damaged South Bay Community Changes Hands
New owners IDEAL Capital Group and Aegon Real Assets US will invest in renovations and upgrades of the 105-unit asset sold by Stockbridge Capital Group.
Bridge Investment Group Opens SoCal Community
The owner broke ground on the 346-unit Class A multifamily asset in early 2017, with East West Bank providing construction financing.