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Jan. 16, 2022

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Greystar buys Vancouver apartment complex the Pointe for $100 million

By , Columbian Innovation Editor, and
The Columbian

The Pointe Apartments in east Vancouver sold to Greystar recently for more than $100 million, according to the Portland Business Journal. Since then, the apartment complex’s name has changed to Avana One Zero Nine.

The seller, California-based Vista Investment Group, bought the apartment complex for $68 million in 2019, according to Clark County property records.

In 2015, the property was sold for $55 million, and in 2010, it was sold for $31.25 million.

The complex, at 3508 N.E. 109th Ave., offers 387 units. It’s the latest acquisition for South Carolina-based Greystar, which now owns 11 Vancouver apartment complexes, including the Aria, a new development at 636 W. Sixth St. Greystar was reported to hold about $32 billion in assets in 2019 and had about 20,000 employees worldwide.

The Pointe was part of a four-property, $334 million sale from Vista Investment Group, according to the Portland Business Journal. The other three properties in the deal are located in California.

Josh McDonald, senior vice president for CBRE and broker for the sale, said the Pointe Apartments sold for $104 million and the deal was completed last month.

In July, The Pointe Apartments were in the news when Clark County sheriff’s Detective Jeremy Brown was shot to death there while investigating a crime involving stolen firearms.

Representatives from Greystar and Vista Investment Group did not return phone calls from The Columbian seeking more information about the sale.

This story was updated to include information on the price of the property and the sale date.