Autumn Grove Buy is Calida Group’s First in Portland MSA
Autumn Grove, a 148-unit multifamily asset in Vancouver, WA, was completed in three phases. After receiving its certificate of occupancy in the spring, the property performed well throughout the initial lease-up phase.
At 86 percent leased at the time of closing, Autumn Grove recently sold to The Calida Group for an undisclosed price, according to Institutional Property Advisors (IPA), a division of Marcus & Millichap. Anthony Palladino, along with IPA’s Giovanni Napoli, Philip Assouad, Ryan Dinius and Sidney Warsinske represented the buyer.
“This investment by The Calida Group marks the Las Vegas-based company’s first acquisition in the Portland MSA,” said Palladino. “The sale is representative of the influx of new capital migrating to Vancouver and other multifamily markets throughout the Pacific Northwest in the post-pandemic environment. The trend of investing in newly built assets in the Portland MSA is a factor of relative cost versus new construction, which is expected to continue as material and labor expenses increase.”
Autumn Grove is adjacent to Vancouver Mall, accessible from interstates 205 and 5.