Wednesday, August 13, 2025
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Oregon

19909-SE-Stark-St-Portland-OR
AcquisitionsHealthcareMultifamilyOregonWestern

Norris & Stevens Brokers $5.3M Sale of Residential Care Facility in Portland

by Amy Works

PORTLAND, ORE. — Norris & Stevens has arranged the sale of a 16-room residential care facility located at 19909 SE Stark St. in Portland. The Pribeagu family sold the asset to an undisclosed buyer for $5.3 million. Constructed in 2003 and zoned for 34 beds, the 13,414-square-foot facility comprises two buildings on 1.4 acres. All 16 rooms are fully furnished and ADA compliant with private bathrooms and individual temperature control. Facility amenities include a full kitchen, three laundry rooms, an intercom system, office spaces, a large community room, two storage sheds and approximately 3,000 square feet of garage space. David Chatfield of Portland-based Norris & Stevens represented the seller, while Lindsay Murphy of Apex Real Estate Partners represented the buyer in the deal.

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LoansMultifamilyOregonWestern

GREA Capital Secures $4M Loan for Refinancing of Oregon Multifamily Property

by Amy Works

LINCOLN CITY, ORE. — The Capital Services Group of Global Real Estate Advisors (GREA) has secured a $4 million loan for the refinancing of a garden-style apartment complex in Lincoln City, located on Oregon’s coast. The 44,250-square-foot property offers 48 apartments. Matt Swerdlow, Matthew Dzbanek and Anthony Priest of GREA Capital Services arranged the transaction. Adam Smith of GREA provided local advisory services for the deal. The loan featured a 10-year term, 30-year amortization schedule and no prepayment penalty.

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11125-SE-21st-Ave-Milwaukie-OR
AcquisitionsMultifamilyOregonWestern

CBRE Arranges $28M Sale of Axletree Apartments in Milwaukie, Oregon

by Amy Works

MILWAUKIE, ORE. — CBRE has arranged the sale of Axletree Apartments, a multifamily complex located at 11125 SE 21st Ave. in Milwaukie. A private seller sold the asset to an undisclosed buyer for $28 million. Built in 2019, Axletree Apartments features 110 studio, one- and two-bedroom units with in-unit washers/dryers and stainless steel appliances. Josh McDonald and Joe Nydahl of CBRE represented the seller in the deal.

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9700-SW-Capitol-Hwy-Portland-OR
AcquisitionsOfficeOregonWestern

Norris & Stevens Arranges $5.7M Sale of Capitol Park Office Building in Portland

by Amy Works

PORTLAND, ORE. — Norris & Stevens has arranged the acquisition of Capitol Park, an office property located at 9700 S.W. Capitol Highway in Portland. 9700 SW Capitol LLC purchased the building from an undisclosed seller for $5.7 million. Constructed in 1983 and renovated in 1993, the two-story, 29,000-square-foot building features a recently remodeled lobby and bathrooms, a new roof and an outdoor dining area for tenants. Raymond Duchek and Thomas McDowell of Portland-based Norris & Stevens represented the buyer, while Steve Bowers and Sean McCarthy of Kidder Mathews represented the seller in the deal.

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Summerlinn-Apts-West-Linn-OR
AcquisitionsMultifamilyOregonWestern

CBRE Brokers $33.6M Sale of Apartment Community in West Linn, Oregon

by Amy Works

WEST LINN, ORE. — CBRE has arranged the sale of Summerlinn Apartments, a multifamily property in West Linn. A private buyer acquired the asset from Reliant Group for $33.6 million. Situated on 6 acres at 400 Springtree Lane, Summerlinn Apartments features 94 one-, two- and three-bedroom units. Community amenities include a gated entrance, landscaped grounds, a sports court, play area and a remodeled clubhouse with a pool, hot tub and an outdoor entertainment space. Josh McDonald, Joe Nydahl and Matt Dodd of CBRE represented the seller in the deal.

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Ansley-Murrayhill-Tigard-OR
AcquisitionsMultifamilyOregonWashingtonWestern

Pacific Urban Investors Acquires Two Multifamily Properties in Oregon, Washington

by Amy Works

TIGARD, ORE., AND BELLEVUE, WASH. — Palo Alto, Calif.-based Pacific Urban Investors has purchased two apartment communities in Oregon and Washington. Terms of the transactions were not released. The company acquired Meadow Creek, a 304-unit multifamily in Tigard, that has been renamed Ansley Murrayhill. Built in 1985, the two-story, garden-style property features 608 parking spaces, a clubhouse, fitness center, game room, swimming pool, spa, racquetball court and a dog park. Pacific Urban Investors also purchased Edgewood Park, a 195-unit property in Bellevue, that has been renamed Alder Bellevue. The low-density, garden-style community offers 372 parking spaces, two swimming pools, a fitness center and ample green space.

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3757-SE-Clay-St-Portland-OR
AcquisitionsMultifamilyOregonWestern

Structure Redevelopment Sells Clay Street Apartments in Portland for $3.1M

by Amy Works

PORTLAND, ORE. — Structure Redevelopment LLC has completed the disposition of Clay Street Apartments, a 7,357-square-foot multifamily property in Portland, to an undisclosed buyer for $3.1 million. Constructed in 2023, Clay Street Apartments features one studio unit, 12 one-bedroom/one-bath units and two two-bedroom/two-bath units with modern fixtures and appliances, luxury vinyl plank flooring, in-unit washers/dryers and air conditioning vent ports. The community is located at 3757 SE Clay St. Jake Holman of Portland-based Norris & Stevens represented the seller, while the buyers were self-represented in the transaction.

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Ackerly-Sherwood-OR
AcquisitionsLoansMultifamilyOregonSeniors HousingWestern

BMO Healthcare Provides $41M Acquisition Loan for Seniors Housing Community Near Portland

by Amy Works

SHERWOOD, ORE. — BMO Healthcare’s Real Estate Finance group has provided a $41 million loan for the acquisition of The Ackerly at Sherwood, a senior living community located in Sherwood, roughly 15 miles southwest of Portland. A joint venture between an institutional investor and Merrill Gardens is the borrower. Merrill Gardens will manage and operate the property. The Ackerly at Sherwood totals 130 units with independent living, assisted living and memory care residences. Based in Seattle, Merrill Gardens manages more than 60 seniors housing communities across 20 states. 

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River-Lofts-Tualatin-OR
AcquisitionsMultifamilyOregonWestern

Next Wave Investors Sells 74-Unit River Lofts in Oregon to FPA Multifamily

by Amy Works

TUALATIN, ORE. — Next Wave Investors has completed the disposition of River Lofts, an apartment property in Tualatin, to FPA Multifamily for $15.8 million, or $214,189 per unit. Located on the banks of the Tualatin River, 12 miles from Portland, River Lofts offers 74 apartments. Built in 1974, the asset has undergone interior and exterior upgrades. Anthony Palladino, Philip Assouad, Giovanni Napoli, Nick Ruggiero and Ryan Harmon of Institutional Property Advisors (IPA), a division of Marcus & Millichap, and Georgie Christensen-Riley of Marcus & Millichap represented the seller and procured the buyer in the deal. David Tabata of Marcus & Millichap served as broker of record in Oregon.

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Union-Pacific-Hwy-Apts-Corvallis-OR
Affordable HousingDevelopmentMultifamilyOregonWestern

Annex Group Opens 174-Unit Affordable Housing Community in Corvallis, Oregon

by Amy Works

CORVALLIS, ORE. — The Annex Group has opened Union at Pacific Highway, an affordable housing property in Corvallis. Construction on the $56 million community began in early 2023, with the property — managed by Avenue5 Residential — now 99 percent leased. Union at Pacific Highway features 174 one-, two- and three-bedroom apartments for individuals and households earning up to 60 percent of the area median income. Situated on more than 7 acres, the property offers a community center, fitness center, playground, community gardens, a dog park, dog wash, business center, activity rooms and a picnic area. Partners on the project include Oregon Housing and Community Services, the City of Corvallis, Linn-Benton Housing Authority, Structure Development Advisors as the LIHTC consultant, KTGY as architect and DEVCO Engineering as civil engineer. Additionally, Piper Sandler placed the tax-exempt bonds and NDC provided more than $19 million in tax credit equity.

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