Guardian, a real estate investment and operating platform focused on multifamily properties, has partnered with PCCP LLC to acquire Ladd Tower, a 23-story residential high-rise in Portland, for $63 million.
Built in 2009 and LEED Gold certified, the 322-unit Ladd Tower includes more than 255,000 square feet of residential space and a full suite of amenities. Guardian plans to implement an $8 million capital improvement program over the next three years, focusing on modernizing unit interiors and enhancing amenity spaces to align with evolving renter needs.
“We view this as a strong investment opportunity with clear upside through targeted reinvestment,” said Tom Brenneke, president of Guardian. “Ladd Tower offers the scale, location, and construction quality that should drive outperformance as Portland’s downtown continues to recover. We are focused on disciplined execution to deliver long-term value for our partners.”
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