Institutional Property Advisors Brokers $18.85 Million Sale of Portland Apartment Asset for Pathfinder Partners

PORTLAND, Ore. — Institutional Property Advisors, a division of Marcus & Millichap (NYSE: MMI), has brokered the $18.85 million sale and arranged acquisition financing for Habitat, an 85-unit apartment community in Portland's Raleigh Hills neighborhood, the firm announced July 13, 2026. Pathfinder Partners was the seller; Crown Point Real Estate was the buyer.

The transaction priced at $221,765 per unit and $280 per square foot — figures IPA characterized as among the highest recorded for 1970s-built apartment properties sold in the Portland area over the last five years.

Transaction Details and Brokerage Team

Anthony Palladino, Philip Assouad, Giovanni Napoli, Ryan Harmon, and Nick Ruggiero of Institutional Property Advisors, in association with David Tabata, Marcus & Millichap's broker of record in Oregon, represented the seller and procured the buyer. Brian Eisendrath, Cameron Chalfant, and Jake Vitta of IPA Capital Markets arranged the acquisition financing. Loan terms and the identity of the lender were not disclosed.

"The property is in a premier Portland neighborhood, but within Washington County boundaries, and thus it has long been an outperformer versus similarly aged comparables," said Anthony Palladino, IPA senior director investments. "Previous ownership completed renovations and upgrades on roughly 40% of the units and the remaining units present a clear path for continued revenue growth."

Asset Profile: Habitat in Raleigh Hills

Built in 1978, Habitat features 85 units across a park-like setting that includes 20 single-story cottage-style units, a central pond, and mature landscaping.

The community is located in the Raleigh Hills area within Washington County. IPA noted that the property's location within Washington County — rather than within Portland city limits — has contributed to its outperformance relative to similarly aged comparables.

The property offers a short commute to Downtown Portland and sits within proximity of three of Oregon's largest employers: Oregon Health & Sciences University, Nike, and Intel.

Value-Add Thesis and Renovation Upside

The transaction reflects a value-add investment strategy. Pathfinder Partners completed interior renovations and upgrades on approximately 40% of Habitat's 85 units during its ownership period. The remaining unrenovated units represent what IPA described as "a clear path for continued revenue growth," providing Crown Point Real Estate with potential to continue repositioning the asset.

Sources

Institutional Property Advisors — Official Announcement, July 13, 2026