Freshwater Investments Expands into Portland Metro Area with Acquisition of Maybeck at the Bend Apartments
On February 5, 2020 Freshwater Investments purchased Maybeck at the Bend Apartments - a multifamily community in Tigard, Oregon - for $24.6 Million.
PORTLAND, Ore., Feb. 12, 2020 /PRNewswire-PRWeb/ -- Freshwater Investments announced the acquisition of Maybeck at the Bend Apartments – a 120-unit garden-style property located in Tigard, OR, 20 minutes from Portland downtown. Built in 1998, Maybeck comprised of one-, two- and three-bedroom apartments with an average unit size of 842 square feet.
Maybeck at the Bend is the first acquisition in Portland metro area for Freshwater Investments and a significant addition to the firm's multifamily portfolio in Seattle and Colorado Springs markets.
Alex Rozenfeld, Freshwater Investments Founder and Managing Partner commented: "We've been looking at the Portland market for a while, as we see huge potential in this region. It's very competitive out there, which makes it even more thrilling to start our journey in Portland with a solid asset such as Maybeck. We welcome this opportunity to build value for our investors' portfolios, while making Maybeck a better place to live for our residents."
The seller was represented by Ira Virden and Carrie Kahn of JLL.
"We are thrilled with the sale of Maybeck at the Bend. This was a very smooth transaction. It was great to work with Freshwater and JLL again," said Anthony Ly, Transactions Director at Hamilton Zanze, the seller in the transaction.
Founded in 2015, Freshwater Investments is a is a California based private equity real estate investment firm offering individual investors and family offices opportunities to grow their capital through ownership of multifamily properties. For more information visit http://www.freshwaterinvestments.com
SOURCE Freshwater Investments
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