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January 4, 2021 Comments (0) Views: 564 Portland, Seattle & Pacific Northwest News

IPA Brokers $81M MF Sale in Portland’s West Hills

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Prime Residential acquired Sunset Summit, a 261-unit multifamily property in Portland’s West Hills neighborhood from BPM Real Estate Group for $80.75 million. The pricing equates to $309,387-per-unit.

Anthony Palladino, Giovanni Napoli, Philip Assouad, Ryan Dinius, and Sidney Warsinske of Institutional Property Advisors’ (IPA), a division of Marcus & Millichap, represented the seller.

Palladino says, “The sale represents the first time the property has traded hands in over 25 years. Sunset Summit is a unique asset, featuring low-density construction with views of the Tualatin Valley from most units.”

Built in 1989 on 31 acres and renovated in 2014, Sunset Summit is near Downtown Portland, allowing for a convenient commute into the city via Burnside Road and access to Nike and Intel via U.S. Highway 26 or the Sunset Transit Center.

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