Portland apartment complex sells for $8M

By: Aaron Spencer//January 3, 2011//

Portland apartment complex sells for $8M

Aaron Spencer//January 3, 2011//

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A 96-unit apartment complex in Southwest Portland has sold for $8.1 million.

The Markana, a 96,578-square-foot building at 8585 S.W. Canyon Lane, sold to the Portland Canyon Investors partnership of Seattle.

The sale was the second in December for representing Portland firm Tilbury & Ferguson, Inc. The firm also closed on The Plymouth, a 30-unit complex in Northwest Portland.

“The rental market is really good and occupancy is strong,” said Liz Tilbury, the broker who represented the sellers. “Things are picking up. It’s not just my imagination.”

Tilbury & Ferguson is a four-person firm that strictly represents multifamily properties.