SR Watt Closes on $60M Portland Multifamily Portfolio

Southern California-based real estate investment and management firm, SR Watt Company, has acquired two Class A suburban multifamily properties in Portland, OR for $60 million. The assets are the 101-unit Cannery Row in Sherwood, OR and the 87-unit Westline in Beaverton, OR. The JLL Capital Markets team of Ira Virden, Carrie Kahn and Frank Solorzano represented the seller, Madison Park Financial Corp. SR Watt represented itself.

“The Pacific Northwest is the ideal market for SR Watt to expand its multifamily footprint thanks to strong market fundamentals that include migrating population and high-growth employment in a suburban metropolitan area,” said SR Watt president Courtney Trujillo.

The Cannery Row property features studio, one-, two- and three-bedroom units with community amenities that include a resident lounge and fitness center. The Westline property (pictured) offers studio, one- and two-bedroom units and includes 2,300 square feet of ground floor retail.