Portland investors purchase apartments
Saturday, May 26, 2012
WASHOUGAL — A 10-unit Washougal apartment complex has been purchased for $950,000, according to a news release issued by Portland-based commercial real estate company Sperry Van Ness Bluestone & Hockley.
The transaction adds to a growing number of similar local investments based on the theory that multifamily projects are a stable market segment fueled by the housing slump and accessible financing.
Portland investors Ken Wallace and Ed Wallace purchased the two-story Lone Oak Apartments at 657 29th St. in Washougal. It was purchased from the Jean T. Humason Trust.