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An Atlanta-based investor last month closed on a $105.5 million purchase of the Asa Flats + Lofts at 1200 N.W. Marshall St. in the Pearl District.

Invesco Advisers, which purchased the 16-story, 231-unit complex from Seattle-based Unico Properties and its partner, Cigna Investments, declined to comment on the transaction.

The cost per unit was the highest ever in Portland and reflects a trend of institutional investors looking for high-yielding and well-located apartment assets, said Greg Frick, a partner and founder of HFO Investment Real Estate, which specializes in multifamily housing in Oregon and Washington.

“Pricing has been very aggressive,” he said. “The markets have been aggressive because a large amount of institutional capital is chasing yield.”

Numerous Portland apartment buildings have been acquired by institutional-size investors over the past year. For instance, Savier Street Flats sold for $64.1 million in December 2013.

“This is further solidifying the fact that Portland is on the map,” said Debbie Thomas, owner and principal broker of Debbie Thomas Real Estate. “It’s not Seattle’s stepchild. It’s a viable market that everybody wants to be in.”