Vancouver Apartments Change Hands

PORTLAND, OR-Meadow Wood and Prairie View, two apartment complexes just north of here in Vancouver, WA have changed hands in separate transactions totaling approximately $53 million, according to the listing brokerage firm, locally based multifamily brokerage specialist Hagerman Frick O’Brien. Meadow Wood sold in early January. Prairie Wood sold in the last week of December.

Meadow Wood is a 334-unit apartment complex, sold for $26.6 million or $79,640 per unit. The new owner is Meadow Wood Associates LLC, which is an investment group out of Portland that includes Mike McKenna. The seller was Vancouver-based Orchards Retirement LLC, a group of family members who decided it was a good time to sell, according to HFO.