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1/11/16
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Green Leaf Capital Partners purchased The Pointe, a 387-unit, garden-style multi-housing property in Vancouver, WA. The asset was acquired from an affiliate of Kennedy Wilson for $55 mil ($142k/unit), free and clear of existing debt.
The Pointe is located at 3708 NE 109th Avenue just off I-205, approximately 16 miles northeast of downtown Portland. The 94-percent-leased property has 37 residential buildings with one-, two- and three-bedroom units averaging 879 square feet each. Community amenities include two swimming pools, indoor spa, fitness center, barbecue area, dog run and clubhouse.
Ira Virden and Kerry Hughes of HFF represented the seller in the transaction.
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