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October 26, 2023
Down in Portland, the fairly new 206-unit Sandy28 has changed hands. The Seattle office of Institutional Property Advisors represented the seller, Fairfield Residential, IPA recently announced. The $43 million purchase by Green Leaf Capital Partners had been previously reported. IPA's team consisted of Giovanni Napoli, Philip Assouad, Nick Ruggiero, Ryan Harmon and Anthony Palladino. The latter said in a statement, “The sale of Sandy28 represents one of the only institutional-sized transactions to take place within Portland's urban core in the last 18 months.” Sandy28 is in Kerns neighborhood, east of the Willamette River; it opened in late 2019.