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Multifamily Market Recovery Gains Steam

VANCOUVER, WA-Investco sells the 388-unit unit Orchard Pointe Apartments in Vancouver, WA to Holland Residential for just under $31.3 million.

By Natalie Dolce | Updated on January 13, 2011

VANCOUVER-The recovery of the multifamily market continues to gain steam, this time with the sale of Orchard Pointe Apartments in Vancouver, WA. Investco sells the 388-unit property to Holland Residential for $31.25 million or $80.541 per unit.

CB Richard Ellis represented Investco in the sale. “The property offered a winning combination—the ability to add value with unit upgrades, high quality construction and an attractive price per unit,” explains Jon Hallgrimson, who marketed the property for the seller with colleagues Frank Bosl, Kirk Taylor, Ann Blume and Graham Taylor.

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