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Waterton Buys Portland Apartments for $77M

BEAVERTON, OR-The Chicago-based firm purchased the 554-unit LaSalle complex from Equity Residential, which had bought the site for $43 million in 2003.

By Robert Carr | Updated on March 22, 2012

BEAVERTON, OR-Waterton Associates, based in Chicago, has acquired the 554-unit LaSalle Apartments here for $77.2 million. Seller Equity Residential had purchased the complex, originally split into two separate properties, for $43 million in March 2003.

Bethesda, MD-based Berkeley Point Capital LLC provided a $54.8 million loan for the acquisition. The fixed-rate, seven-year loan was structured under Fannie Mae’s DUS program.

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