In Portland, Ore., multifamily transaction volume stood at $1 billion in 2020, following two years when investment activity surpassed $1.7 billion, according to Yardi Matrix. Although the crisis has slowed investment across the market, signs point to a robust recovery once restrictions are lifted and vaccines become widely available. Yardi Matrix expects apartment rents in Portland to improve by 1.4 percent in 2021.
Three submarkets — Tanasbourne, Southwest Hills and Mill Plain — accounted for half of total investment volume in 2020. Security Properties was one of the most active buyers in the market, paying $405 million for a three-property portfolio that included two Oregon assets.
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