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November 13, 2020 Comments Off on Holland, EJF JV Acquires Pair of Vancouver MF’s for $63M Views: 954 Portland, Seattle & Pacific Northwest News, Top Seattle

Holland, EJF JV Acquires Pair of Vancouver MF’s for $63M

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Vancouver, WA-based Holland Partner Group (HPG) and Washington, DC-based EJF Capital LLC formed a JV to acquire and operate two adjacent six-story multifamily buildings in downtown Vancouver, WA. The assets were acquired for $62.5 million and will be rebranded as Coen & Columbia.

The project will consist of 200 multifamily units and roughly 2,200 square feet of retail. The buildings are located on 1.1 acres in a Qualified Opportunity Zone.

The first building, Coen, is scheduled to deliver in Q4 2020, and is a 118-unit multifamily community with 2,200 square feet of retail. The second building, Columbia, offers 82 multifamily units. Both buildings sit atop a city-owned 750-space parking garage. KeyBank provided financing for the project.

HPG’s Clyde Holland says, “This is another exciting project we have on the books with EJF. Coen & Columbia, coupled with Block 10, creates a portfolio in close proximity that will add to the vibrancy of downtown Vancouver.”

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*Pictured 601 Columbia St.

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