SR Watt Company Closes on $60 Million Acquisition of Suburban Portland, OR Multifamily Portfolio

 

Carrie Kahn

 

Portland, OR, Oct. 20, 2022 – SR Watt Company, a Southern California-based real estate investment and management firm, has announced the acquisition of two class A suburban Portland multifamily properties including the 101-unit Cannery Row, at 22550 SW Highland Drive, Sherwood, and the 87-unit Westline, at 4545 SW Angel Avenue, Beaverton.

 Courtney Trujillo

The seller, Madison Park Financial Corp. was represented by JLL Capital Markets Investment Sales Advisory team of Ira Virden, Carrie Kahn and Frank Solorzano. SR Watt represented itself in the $60 million portfolio acquisition.

 “The Pacific Northwest is the ideal market for SR Watt to expand its multifamily footprint thanks to its strong market fundamentals that include migrating population and high-growth employment in a suburban metropolitan area.

 Frank Solorzano

Plus, we see great opportunity to enhance placemaking opportunities in these communities that further enhance resident quality of life,” said Courtney Trujillo, president, SR Watt. This marks SR Watt’s first multifamily acquisition since its launch in July 2022.

 Built in 2013, Cannery Row features studio-, one-, two- and three-bedroom units with an average size of 840 square feet. Cannery Row is adjacent to the Sherwood Saturday Market at Cannery Square and a few blocks from Old Town Sherwood. 

The property features a resident lounge, fitness center, community patios, and pet grooming station.

Ira Virden

 SR Watt plans to renovate Cannery Row with interior unit upgrades, a new dog park, outdoor kitchen and social area, and upgraded fitness center. 

 Offering studio, one- and two-bedroom units with an average size of 737 square feet, the 2017-built Westline also includes 2,280 square feet of retail. 

Westline is located in the heart of downtown Beaverton Historical District. Community amenities include a pet/bike wash station, fitness center, rooftop deck with BBQ fire pit, and views of Mt. Hood.

  

 CONTACT:

 Jenna Sharp

JLL

M +1 214 394 3356

JLL.com

srwatt.com.

madisonpark.com