(EDITOR’S NOTE: The price per unit comes to about $191,892 per unit.)
Portland, Oregon – Westland Investors announced today the successful closing of one of their portfolio properties, River Loft Apartments. Located on SW Boones Ferry Rd in Tualatin, the 74-unit apartment building’s closing price was $14,200,000. Westland worked closely with Georgie Riley of brokerage firm, Marcus & Millichap, to secure the deal. Additionally, the seller’s broker was Khari Gates of the same firm, who brought a qualified buyer from southern California.
Westland spent the past four years making valuable updates to both the exterior and the interior of the property. These upgrades improved the lives of the property residents, elevated the neighborhood and also delivered strong returns to investors. According to Westland’s Head of Business Development, Carson Halley: “Once we realize the added value to the neighborhood and residents, we are looking to take our model to other areas in the Portland Metro Area who would benefit from our expertise. Our mission is to invest in better living — revitalizing our community, one neighborhood at a time.”
With more projects like this on the horizon, Westland is establishing relationships with additional accredited investor clients and brokerages.
About Westland Investors:
Westland Investors’ focus for more than 40 years has been primarily in multi-family housing in the US Pacific Northwest. With over 400 units located in strong rental markets, Westland purchases apartments with good bones and upgrades each unit with high quality improvements making residents feel proud to call it home. In addition, they own and operate a dedicated in-house property management company, Centro Management allowing for end-to-end service.