Institutional Property Advisors, a division of Marcus and Millichap, is expanding its footprint and its talent pool. With a new Portland office and the addition of Elizabeth K. Davis
to direct that office, the move is a play by the company to take advantage of the expansion of interest in multifamily institutional investment in the Portland market.
Davis said she is "thrilled" to be spearheading the new location and anticipates significant room for expansion as, "this year, Portland broke into the top ten apartment markets nationally, according to National Apartment Index." David added, "with a low vacancy rate of 3.5% compared to 5.1% nationally, and our projected employment increase of 3.1% this year, there is a compelling and appealing investment environment ahead."
A veteran to the commercial real estate
industry in Portland, Davis brings 20 years of experience with local and national institutional clients to her new role as director of IPA Portland. Previously a broker with Apartment Realty Advisors (ARA), Davis has been directly involved in multifamily sale transactions totaling over $500 million within the past two years. Already this year, she brokered two significant multifamily sales: the $42.7 million transfer of Covington Farms, and the $53 million sale of Tupelo Alley.
The focus on Portland’s market by IPA with the new office will showcase the benefits from this innovative research and marketing platform, with unparalleled access to both institutional and private capital. Davis anticipates that the impact will be profound.