REBusinessOnline

FOREST & GARDEN APARTMENTS TRADES HANDS FOR $4.75 MILLION

PORTLAND, ORE. — Portland-based Real Estate Recovery Associates-13th Street Investors LLC has purchased Forest & Garden Apartments, a 51-unit apartment community located at the intersection of 20th and Hoyt/Irvine streets in Portland, for $4.75 million. Built in 1925, the two-building property was 100 percent occupied and offers 22 studio units, 28 one-bedroom units and one two-bedroom unit. Bill Younce of Sperry Van Ness’ Portland office represented the buyer; Riverview Bank Trust Department represented the seller, a private investor from Portland, in the transaction.

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