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Seattle & Northwest  + Portland  + Apartments  | 

Portland Multifamily Trades for the First Time in 25 Years

A recent sale represents the first time Sunset Summit has changed hands in more than 25 years. The 261-unit multifamily property in the West Hills neighborhood of Portland recently sold for $80.75 million. This equates to $309,387 per unit. The buyer was Prime Residential.

Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, BPM Real Estate Group. Anthony Palladino, Giovanni Napoli, Philip Assouad, Ryan Dinius and Sidney Warsinske were the seller brokers.

Sunset Summit features low-density construction with views of the Tualatin Valley from most units. Built in 1989 on 31 acres and renovated in 2014, Sunset Summit is approximately a seven-minute drive from downtown Portland, allowing for a convenient commute into the city via Burnside Road, along with access to Nike and Intel via U.S. Highway 26 or the Sunset Transit Center.

For comments, questions or concerns, please contact Lisa Brown

Connect

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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