PORTLAND, OR—A group of local investors paid $4.3 million for the ecoFlats Apartments, a mixed-use property with 18 apartment units and 3,700 sf of retail space in North Portland. NAI Norris, Beggs & Simpson Vice President Robert Black represented the seller, 3935 N. Williams LLC.

"This sale is significant because ecoFlats is one of the first newly constructed properties from this past building cycle to be sold," Black said of the project, which delivered in March 2011. "This is an incredibly unique property, and its high level of sustainability and ideal location appealed to buyers."

ecoFlats was developed by Jean-Pierre Veillet of Siteworks Design | Build and Doug Shapiro, who envisioned a sustainable mixed-use community with an affordable ethos that was unlike any on the market. The Portland Development Commission signed on to provide partial financing, as ecoFlats is in the Interstate Corridor Urban Renewal Area. ecoFlats also enrolled in Energy Trust of Oregon's Path to Net Zero pilot program, which aims for buildings to be 60 percent more efficient than building codes require.