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Pacific Property Co. Buys Into Oregon

TIGARD, OR-Northern California's third largest multifamily investment firm made its first investment outside its home state this week, agreeing to acquire the 156-unit Panorama West Apartments here for $6.15 million.

By Brian K. Miller | Updated on July 12, 2001

TIGARD, OR-Pacific Property Company, has agreed to acquire the 156-unit Panorama West Apartments here for $6.15 million. The transaction is scheduled to close at the end of the month. The property will be managed by HSC Real Estate Inc.

Pacific Property’s Seattle-based regional director Matthew Campbell says he was attracted by its strong location relative to Portland area employers and the underlying supply constraints provided by the region’s Urban Growth Boundary.

Panorama is situated adjacent to new communities, including Arbor Heights Apartments and Timberline Apartments. Approximately $1 million in renovations are planned, including upgrading the existing interior and exterior of the building.

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