Ann Caruana Of Preservation Equity Fund Advisors Acquires Prairie View Apartments From DH&G For $56M
12611 Northeast 99th Street
$56,000,000
Units
284
Asset Type
MultiFamily
Closing
Mar 13, 2025
AI
The property involved in the transaction is the Prairie View Apartments, a 284-unit multifamily asset located at 12611 Northeast 99th Street, Vancouver, WA. The sale was completed for $56,000,000, translating to a price per unit of $197,183.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $56,000,000
- Units: 284
- Buyer: Ann Caruana - Preservation Equity Fund Advisors
- Seller: DH&G
Preservation Equity Fund Advisors has focused its strategy on acquiring affordable housing through this transaction to cater to residents earning up to 60% of the Area Median Income. This acquisition is part of PEF Advisors' third affordable housing fund, aimed at addressing the need for affordable housing in the Portland metro area and preventing potential displacement of residents.
Players
Vancouver MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93