Institutional Property Advisors Closes Multifamily Asset Sale in Suburban Portland Oregon
May 29, 2025
TUALATIN, Ore., May 29, 2025 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of River Lofts, a 74-unit apartment property in Tualatin, Oregon. The $15.85 million sales price equates to $214,189 per unit.
“The surrounding area boasts one of the highest-earning demographic profiles in the Portland MSA, as evidenced by average annual household income within a three-mile radius of River Lofts of over $126,000,” stated Anthony Palladino of IPA. The property, built in 1974, has undergone interior and exterior upgrades by prior ownership groups.
Palladino, Georgie Christensen-Riley of Marcus & Millichap, and IPA’s Philip Assouad, Giovanni Napoli, Nick Ruggiero, and Ryan Harmon represented the seller, Next Wave Investors, and procured the buyer, FPA Multifamily in association with David Tabata, Marcus & Millichap’s broker of record in Oregon.
Located on the banks of the Tualatin River, 12 miles from Portland, River Lofts is within walking distance of one of the premier lifestyle centers in the Portland MSA, Bridgeport Village. The property benefits from its proximity to high-quality schools in one of the most sought-after suburban locations in the metro area.
“The surrounding area boasts one of the highest-earning demographic profiles in the Portland MSA, as evidenced by average annual household income within a three-mile radius of River Lofts of over $126,000,” stated Anthony Palladino of IPA. The property, built in 1974, has undergone interior and exterior upgrades by prior ownership groups.
Palladino, Georgie Christensen-Riley of Marcus & Millichap, and IPA’s Philip Assouad, Giovanni Napoli, Nick Ruggiero, and Ryan Harmon represented the seller, Next Wave Investors, and procured the buyer, FPA Multifamily in association with David Tabata, Marcus & Millichap’s broker of record in Oregon.
Located on the banks of the Tualatin River, 12 miles from Portland, River Lofts is within walking distance of one of the premier lifestyle centers in the Portland MSA, Bridgeport Village. The property benefits from its proximity to high-quality schools in one of the most sought-after suburban locations in the metro area.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.