REBusinessOnline

Rise Properties Acquires Westwynd Apartments in Vancouver, Washington for $18.3M

Westwynd-Apts-Vancouver-WA

Westwynd Apartment Homes in Vancouver, Wash., features 120 units, a clubhouse, pool and office.

VANCOUVER, WASH. — Rise Properties (Westwynd) LP, a Seattle-based REIT, has purchased Westwynd Apartment Homes, a multifamily property located in Vancouver. Christensen Properties I, based in Vancouver, sold the asset for $18.3 million.

Located at 10117 NE Ninth Ave., Westwynd Apartments features 120 units spread across seven residential buildings, a clubhouse, pool and office, as well as a 20-car garage building. At the time of sale, the property was 98.6 percent occupied.

David Chatfield and Timothy Mitchell of Portland, Ore.-based Norris & Stevens represented both parties in the deal. The purchase is Rise Properties’ first acquisition in the Portland/Vancouver area.

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