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Pearl Real Estate Partners Picks Up 55-Unit 2020 Building for $14.4M

56,000-SF Apt. Complex Changes Hands in Goose Hollow
February 23, 2018
Pearl Real Estate Partners, a Portland, OR-based real estate investment firm, purchased a 55-unit apartment building at 2020 S.W. Salmon St. in Portland’s Goose Hollow Multifamily submarket from a private investment partnership for $14.43 million, or about $263,000 per unit.

The seller, which took title as 2020 Building Owner LLC, originally acquired the property in 2009 for $7.4 million, according to CoStar data.

Known as the 2020 Building, the mid-rise apartment complex boasts a mix of studio, one-, two- and three-bedroom floorplans ranging in size from 275 to 856 square feet, according to CoStar data. 2020 Building was built in 1963 and totals 55,885 square feet across two buildings.

Liz Tilbury and Benjamin Murphy of Tilbury Ferguson Investment Real Estate, Inc. represented both sides of the sale.

Please see CoStar COMPS #4132248 for more information on this transaction.
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