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