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Seattle & Northwest  + Portland  + Apartments  | 

Gelt Grabs Gresham MF for $30M

Los Angeles-based Gelt, Inc. acquired Silverwood Apartments in Gresham for $30 million. The 164-unit property is located at 4777 SW 11th St.

HFO’s Tyler Johnson, Rob Marton, and Greg Frick represented Gelt, as well as the seller, an unnamed private individual who owned the property for more than 25 years.

Gelt’s Jeff Harris notes as a result of the COVID-19 crisis they applied more “conservative projections” for this asset. “However, as a function of the good basis we bought the property for, a strategic business plan to capture significant value-add upside, and a desirable interest rate, we were able to forecast overall returns that met our desired yield requirements,” he said.

Built in 1991, the garden-style community is situated on just under nine acres and includes 32 buildings. The property features a pool, playground, walking/biking trails, and a picnic area.

Gelt also owns Powell Valley Apartment Homes in Gresham.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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