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California Investor Expands to NW with $26M PDX MF Buy
San Diego-based SENTRE acquired The Thornton (formerly Tess O’Brien), a 123-unit urban apartment community in Portland, OR, from Kehoe Northwest Properties for $25.5 million, or $207,000 per unit. This purchase marks SENTRE’s expansion into the Pacific Northwest.
SENTRE’s Doug Arthur says, “We are excited to make our first investment in the dynamic Portland market. We believe our highly differentiated 15,000-square-foot indoor and outdoor amenity package, efficient and reasonably priced studio units, and the well regarded and highly amenitized Slabtown location will position The Thornton for long term success.”
The new owner plans to re-brand the property, and complete an estimated $1-million renovation of common areas and unit interiors this year. Originally built in 2016 and leased to stabilization in 10 months, The Thornton is located at 1953 NW Overton St., in Portland’s desirable Northwest District.
CBRE represented the seller.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


