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Security Properties Acquires Portland Apartment Complex
A partnership between Security Properties and an affiliate of Rockwood Capital closed on the acquisition of NV Apartments, a 284-unit multifamily property built in 2016 and located in Portland, Oregon.
Located in Portland’s North Pearl District, the property is situated along one of the city’s most dynamic corridors, 13th Avenue. NV benefits from its location near a wide range of retail, dining, and recreational options, all within walking distance. The property will be managed by Security Properties-affiliate Security Properties Residential.
The residential floorplans consist of one- and two-bedroom units. The interiors feature modern wood grain laminate cabinets with under-mount lighting, stainless steel appliances, hard surface countertops with under-mount sinks, and vinyl plank flooring.
“The acquisition of NV represented a unique opportunity to purchase a well-located, trophy high-rise at a compelling basis relative to replacement cost,” said Alex Gauper, Senior Director at Security Properties.
