January 13, 2017
Fairfield Residential paid $3.6 million to acquire a 0.70-acre plot in Portland, OR’s Kerns neighborhood. The site at 2869 N.E. Sandy Blvd. currently contains a towing service. Fairfield will ultimately develop an as-yet-unnamed multifamily project on the site. Zoning for the site means it could hold up to 200 units.
Portland Leeds Sandy LLC was the seller, which was represented by Graham Taylor with CBRE’s Portland office. Taylor noted that the neighborhood is undergoing renovation, with more retail and apartment projects going north. “Fairfield’s new development at Central Sandy will open its doors to jobs, restaurants and shopping in this key Eastside community,” he added.
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