$23.45 million multifamily sale reached

By: Chuck Slothower//November 8, 2016//

$23.45 million multifamily sale reached

Chuck Slothower//November 8, 2016//

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The eight-story Cameron apartment building at Southwest 12th Avenue and Clay Street in downtown Portland has sold for $23.45 million. (Courtesy of HFO Investment Real Estate)

An apartment building near Portland State University has sold for $23.45 million.

The price for the 85-unit building known as The Cameron equated to $282,530 per unit, or $432 per square foot.

Bremik Construction completed the eight-story building in February. The Cameron, at 1500 S.W. 12th Ave., was designed by SERA Architects.

The property was purchased by Grand Peaks Properties of Colorado. HFO Investment Real Estate marketed the property nationally on behalf of seller Cameron Associates LLC, an entity registered to Portland developer Michael McKenna.

The Cameron is geared to attract professionals and graduate students looking for upscale living in downtown Portland, HFO partner Cody Hagerman said in a news release. The property includes a mix of studio, one-bedroom and two-bedroom apartments. The building includes a fitness center and an outdoor community terrace.

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