Portland Riverplace multifamily project sells for $97 million

“Just when it seemed that nobody but giant California investors were buying up Portland’s apartment projects, up steps one of the Rose City’s own to pay a princely sum for 290 units just steps from the Willamette River.

Portland-based NBP Capital, which owns a $200 million portfolio with more than 1,500 apartments across 40 properties, has purchased Mint Urban RiverPlace, a 290-unit multifamily complex at 2083 S.W. River Drive, just north of the South Waterfront. The sales price was $97.2 million or about $335,200 per unit.”