FPA Multifamily LLC Acquires 352-Unit Apartment Complex In Portland For $61 Million

The asset involved in this transaction is a multi-family apartment complex located at 1720 Southwest 4th Avenue in Portland, OR. The property comprises 352 units and was sold for $61 million, which equates to a price per unit of $173,295. The sale took place on August 31, 2026.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $61,000,000
• Units: 352
• Price Per Unit: $173,295
• Buyer: FPA Multifamily LLC
• Seller: Teachers Insurance & Annuity Association of America
• Market: Portland, OR

The transaction illustrates a shift in property value, with the apartment complex, known as Cyan/PDX, having previously sold for $95.75 million in 2013. This sale to FPA Multifamily represents a significant 36% discount from its earlier price.