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Multi-housing portfolio near Vancouver trades for $23.15M

Multi-housing portfolio near Vancouver trades for $23.15M
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CBRE Secures $13.8 Million in Financing for Acquisition of 92-Unit Multifamily Community in Portland Metropolitan Area of Canby

SAN FRANCISCO, CA - CBRE Capital Markets’ Debt & Structured Finance team in San Francisco has arranged a $13.8 million acquisition loan for the purchase of a multifamily community, The Township, in Canby, Ore.
Andrew Behrens and Jesse Weber of CBRE arranged the 10-year, fixed rate loan on behalf of the buyer, San Francisco-based multifamily investment firm Glencrest Group. Josh McDonald with CBRE’s Portland office represented the seller.
Located at 700 SE 5th Avenue, The Township is made up of 92 total units across 13 buildings and was 98 percent leased at the time of sale. The unit mix is comprised of one-, two- and three-bedroom floorplans with an average unit size of 987 square feet. Apartment amenities include decks, patios and washer-dryer units. Community amenities include a clubhouse, fitness center, playground, storage units and 166 parking spaces. The site is located approximately 25 miles south of Portland. ....

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