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Three Oregon MF Projects Nearing Completion
Portland-based real estate development firm Deacon Development is nearing completion on three new Portland and Salem, Oregon-area multifamily communities – Rivenwood, Merx and Paceline – tapping CloudTen Residential to oversee all lease-up and management activities.
“In total, these projects will provide 352 units to the greater Portland and Salem areas, filling a growing need for housing in the region,” said Dennis Mitchell, SVP of CloudTen Residential. CloudTen, a Nevada firm that manages and operates multifamily properties throughout the west, now manages over 36 properties throughout Oregon and Washington, three of them owned by Deacon Development.
Rivenwood will feature 157 studio, one- and two-bedroom apartments at 420 Center St. NE in downtown Salem. Merx is located at the corner of 19th and Petttygrove in northwest Portland’s Slabtown. The seven-story mixed-use project is comprised of 126 studio and one-bedroom apartments. Paceline is located at 1341 N. Killingsworth Street in Portland’s Overlook neighborhood and will be a five-story property with 69 studio and one-bedroom apartments.
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