Fourth Avenue Capital announced its acquisition of two multifamily properties in the Portland metro area.
The company acquired 140 Sacramento, a newly constructed Class-A townhome property in Portland that was built in 2023. All units in the project are 3-stories tall with a mix of two-, three-, four- and five-bedroom configurations.
The company also acquired Sunpointe, a Class-B workforce housing asset in Gresham, Oregon. The property encompasses 88 apartment units within 13 residential buildings on 4.79 acres of land.
The financial terms of the acquisitions were not disclosed. With the completion of these transactions, Fourth Avenue Capital now owns 22 assets across its portfolio, including four other properties in the Portland metro area.
“We continue to find compelling opportunities across a range of deal profiles in the Pacific Northwest,” said Davis Vaughn, managing partner at Fourth Avenue Capital. “We think now is a great time to be buying as we have conviction that there will be outsized growth in this region long-term and we look forward to scaling more in the Portland MSA. By being active in both the core and value-add space with opportunistic acquisitions, we will continue to create long term value for our investors.”
Fourth Avenue Capital is a real estate investment, development, and operating company headquartered in Seattle and Spokane, Washington, focused on middle market multifamily assets in the Pacific Northwest.
Photo: Sunpointe
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