Portland, Ore. (March 20, 2017) - Real Development Corporation recently sold Collective Portland, a
52-unit, urban multi-housing community located in SW Portland, Oregon, for $10,650,000. The buyer, a private investor, purchased the property for $204,808 per unit. Kidder Mathews multifamily commercial real estate brokers Tyler Linn, Clay Newton, and Jordan Carter represented both the seller and the buyer in the transaction.
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 percent occupied at the time of the sale. Collective has an area Walk score® of 87, and Transit Score® 87.
"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 Tyler Linn, vice president at Kidder Mathews.
About Kidder Mathews
Kidder Mathews is one of the largest independently owned commercial real estate firms on the West Coast, with over 650 real estate professionals and staff in 20 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, sustainability, and project and construction management services for all property types. The firm performs $5.6 billion in transactions, manages over 45 million square feet of space, and conducts 1,300 appraisals annually. For more information, visit kiddermathews.com.