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3/21/17
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A private investor has acquired Collective Portland, a 52-unit, urban multi-housing community located in southwest Portland, for $10.65 mil, or $205k/unit. The property was sold by Real Development Corporation.
Built in 1945, Collective Portland is composed of three two-story brick buildings in a garden courtyard setting on 1.6 acres. The apartments were 95% occupied at the time of the sale. Collective has an area Walk score® of 87, and Transit Score® 87.
Tyler Linn, Clay Newton, and Jordan Carter with Kidder Mathews represented both parties in the transaction.
“Collective Portland is a great opportunity for the investor to own a vintage low-density asset in a highly desirable location in close proximity to the downtown central business district, as well as two of Oregon’s largest institutions and employers, Portland State University and Oregon Health & Science University,” said Linn, vice president at Kidder Mathews.
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