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12611 Northeast 99th Street

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

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

PA
Preservation Equity Fund AdvisorsBuyer

Vancouver MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

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