A multifamily building in the Uptown neighborhood of Portland, Oregon, sold for almost twice as much as the average apartment sale in the city recently, in a deal that illustrates the white hot demand for multifamily properties that offer top-tier amenities.
Developer C.E. John Co. sold The George Besaw Apartments, a 51-unit apartment property just blocks away from the Willamette River, for $23.6 million, or about $463,000 per unit, according to a statement from Seattle-based brokerage Kidder Matthews, which represented the seller. The buyer was not disclosed and public records were not available.
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