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September 20, 2018
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PACIFIC NORTHWEST NEWS
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104-Unit Portland Apartment Community Trades Hands

3/08/18

The Century at North Cook (The Century), a 104-unit apartment community in Portland, OR, was acquired by KI-Mountain Par LLC for an undisclosed price. The property was sold by Cook Street Lofts LLC.

With five stories and 104 units, The Century offers studio, one- and two-bedroom homes with contemporary finishes and features. High ceilings and large windows create a bright and spacious living space.

Tenants enjoy modern quartz countertops, undermount sinks, stainless steel appliances, plank flooring, air conditioning, USB charging outlets and full-size washers and dryers in each unit. Built in 2016, The Century features a rooftop deck with stunning views of Portland skyline and barbecue grills, as well as a spacious lobby that adjoins a local coffee shop and 24-hour fitness center, mail center, pet washing station and secure bike storage along with repair stand.

Phil Oester, Joe Nydahl and Josh McDonald of CBRE’s Northwest Multifamily Institutional Investment team represented the seller in the deal. Nick Santangelo of CBRE Debt & Structured Finance secured a 10-year acquisition loan at an all-in coupon rate below 4 percent through Freddie Mac.

“The Century at North Cook is a trophy asset in the heart of North Williams, one of Portland’s most dynamic and sought-after neighborhoods,” says Oester, Senior Vice President. “The community’s contemporary features and finishes offer great appeal to the young professionals relocating to Portland or those who are born and raised Portlandia natives.”





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