UDR Acquires 286-Unit Heirloom Multifamily Community From Lauren Noecker For $74.1M

UDR acquired 1634 Southeast Rural Street, a multifamily property located in Portland, OR, for $74.1 million. The asset comprises 286 units, with a price per unit of approximately $259,091. Completed in 2022, this property spans nearly 13 acres and offers a range of one- to three-bedroom apartments along with amenities such as a pool, fitness center, dog park, and 430 parking spaces.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $74,100,000
• Buyer: UDR
• Seller: Lauren Noecker - NBP Capital
• Units: 286
• Price Per Unit: $259,091
• Market: Portland, OR

The transaction involved UDR as the buyer, acquiring the property from Lauren Noecker of NBP Capital. This multifamily community highlights a strategic investment in the Portland market, emphasizing the buyer's commitment to expanding their portfolio in desirable locations.