Ann Caruana Of Preservation Equity Fund Advisors Acquires Prairie View Apartments From DH&G For $56M

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.