1953 NW Overton Street, Portland, OR  97209| 123 Units


• Acquired 123 apartment units at $25.4M / $207,000 per unit in December 2017


• A+ Northwest District Portland location for a high-end boutique live, work, play apartment community


• Walkable to Slabtown (including the popular “New Seasons Market” and “Breakside Brewery”), the Pearl District and the heart of Downtown Portland (Walk Score 94, Bike Score 98)


• Portland added 35,000 new residents in 2016 (2M total population for Portland MSA) with 30% of inbound migration aged 25-34 which represents likely renter profile for project


• Efficient studio apartment floor plans coupled with robust amenity package makes the community better positioned against future supply marketed at significantly higher gross rents


• Planned investment of $1.25 million ($10,000 per unit) including complete community re-brand, comprehensive upgrade of the existing amenity package (e.g. fitness center, clubhouse) and light work to unit interiors