Newmark is pleased to present the opportunity to acquire two garden-style apartment communities, located near the Portland MSA’s largest economic drivers, job centers and retail destinations. Terra at Hazel Dell and Haven at Golf Creek have significant value-add potential and may be acquired individually or as a portfolio.

Terra at Hazel Dell and Haven at Golf Creek (the “Portfolio” or “Properties”) are two garden-style apartment communities comprised of 206 and 282 units respectively. The Properties feature irreplaceable low-density settings, mature landscaping, and prime locations in Vancouver, WA and Washington County, OR—two of the most sought-after suburban submarkets in the Pacific Northwest, known for their exceptional livability and sustained growth. Haven at Golf Creek is advantageously located in Washington County in close proximity to major employers including St. Vincent Providence, Columbia Sportswear, and Nike and is only 4 miles to Downtown Portland. Terra at Hazel Dell is strategically located between some of Vancouver’s major employment centers including, Salmon Creek with a large concentration of medical employment as well as Downtown Vancouver with connectivity via SR-500 to east Clark County employers.

The Properties, built in 1991 and 1990 offer a significant value-add opportunity. While select elements have been upgraded upon turnover in some units, current ownership has renovated a limited portion of the Portfolio, offering a new owner the opportunity to execute a comprehensive value-add strategy targeting both unit interiors and common areas. The Properties have a $250-400 rent gap with newer product, ideally positioning a new investor to capture significant rent growth by implementing a luxury renovation program across both Properties and achieving substantial rent premiums.

Terra at Hazel Dell and Haven at Golf Creek present investors with an opportunity to invest into two of the Pacific Northwest’s most desirable and fastest growing suburban submarkets with strong employment drivers, growing populations and exceptional renter demographics. The Portfolio’s high-quality physical plants, featuring large floorplans, ample community amenities and largely classic interior finishes, offer a compelling opportunity for value enhancement through targeted renovations.