Chartwell Capital Partners Buys 180-Unit Apartment Property in Vancouver, WA

Chartwell Capital Partners has acquired Oak Creek, a 180-unit multifamily property in Vancouver, Washington. Built in 1987, the property is located at 11412 NE 49th Street, providing convenient access to Portland and downtown Vancouver.

Associate Director Peter Dudunakis, Senior Director George Pallis, Managing Directors Benjamin Johnson and David Sorensen of Berkadia Seattle represented the unnamed seller in the transaction. According to Berkadia, the property generated significant interest from a variety of investors ranging from local family offices to the most active institutions.

“In addition to the location and scale, the assumable HUD financing at a 2.18% rate provided a distinct advantage in today’s uncertain debt environment,” noted Dudunakis. “With a proven renovation program already in place and opportunity to capitalize on the growing Vancouver market, Oak Creek offered the buyer a compelling opportunity to plant their flag in the Pacific Northwest with their first acquisition in Washington State.”