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Transactions - SEPTEMBER 27, 2019

Griffis Residential buys Portland high-rise apartment community

by Released

Barings has sold Riva on the Park for  $116.13 million to Griffis Residential.

The property is a 294-unit, transit-oriented residential high-rise prominently located adjacent to the Oregon Health & Science University (OHSU) in Portland’s South Waterfront neighborhood.

In addition to its proximity to OHSU, which is undergoing a 1.1 million-square-foot expansion, Riva on the Park is located within steps of the Portland Streetcar, MAX Light Rail and the Portland Aerial Tram. The 22-story, LEED Gold-certified property consists of 294 residential units averaging 811 square feet and more than 13,000 square feet of ground-floor retail. Apartment amenities include granite countertops and plank flooring in kitchens; oversized, energy-efficient windows; full-size washers and dryers; central heat and air conditioning; decks or patios; and stunning city and river views. Common area amenities include a lobby with fireside lounge, eco-terrace with grills, 24-hour fitness center and concierge services.

 

 

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