Institutional Property Advisors Closes Multifamily Asset Sale in Suburban Portland Oregon
December 04, 2025
GRESHAM, Ore., Dec. 4, 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 East Wind, a 150-unit multifamily property in Gresham, Oregon.
“Built in 1971, East Wind has received significant capital improvements to preserve and enhance its long-term performance, reduce immediate maintenance obligations and create a seamless operational transition,” said Hamid Panahi, IPA senior managing director investments. Panahi, Whitney Rhoades of Marcus & Millichap, and Anthony Palladino of IPA, in association with David Tabata, Marcus & Millichap’s broker of record in Oregon, represented the seller and procured the buyer. “The proactive approach to asset preservation, combined with thoughtful reinvestment, has cultivated a desirable, resident-focused environment that supports strong community ties and consistently stable occupancy,” said Palladino. “Seldom seen in today’s market, East Wind has enjoyed stable, long-term ownership since 2013, with the community self-managed by ownership to ensure consistent quality and oversight,” added Rhoades.
East Wind is less than a half mile from Mt. Hood Community College, close to Interstate 84, U.S. Highway 26, and a short drive from Downtown Portland. TriMet MAX Blue Line light rail service, which connects Gresham to Portland, Beaverton, and Hillsboro, is within 1.5 miles. There is 1.4 million square feet of retail, dining, and entertainment close by, including Wood Village Town Center and Gresham Station shopping center.
The three-story, eight-building property has a clubhouse with kitchen, individual leasing offices, basketball court, playground, and laundry facilities. The unit mix is one-, two- and three-bedroom apartments with enclosed patios with planter boxes, and large, dual-pane windows.
“Built in 1971, East Wind has received significant capital improvements to preserve and enhance its long-term performance, reduce immediate maintenance obligations and create a seamless operational transition,” said Hamid Panahi, IPA senior managing director investments. Panahi, Whitney Rhoades of Marcus & Millichap, and Anthony Palladino of IPA, in association with David Tabata, Marcus & Millichap’s broker of record in Oregon, represented the seller and procured the buyer. “The proactive approach to asset preservation, combined with thoughtful reinvestment, has cultivated a desirable, resident-focused environment that supports strong community ties and consistently stable occupancy,” said Palladino. “Seldom seen in today’s market, East Wind has enjoyed stable, long-term ownership since 2013, with the community self-managed by ownership to ensure consistent quality and oversight,” added Rhoades.
East Wind is less than a half mile from Mt. Hood Community College, close to Interstate 84, U.S. Highway 26, and a short drive from Downtown Portland. TriMet MAX Blue Line light rail service, which connects Gresham to Portland, Beaverton, and Hillsboro, is within 1.5 miles. There is 1.4 million square feet of retail, dining, and entertainment close by, including Wood Village Town Center and Gresham Station shopping center.
The three-story, eight-building property has a clubhouse with kitchen, individual leasing offices, basketball court, playground, and laundry facilities. The unit mix is one-, two- and three-bedroom apartments with enclosed patios with planter boxes, and large, dual-pane windows.
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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.