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Case Studies / 134th Street Lofts
sold
134th Street Lofts
Record Setting Sale in Emerging Market
- Created competitive process targeting most aggressive buyers
- Achieved record pricing despite rising interest rates and market volatility.
Case Study
CHALLENGE:
Our team was brought in to sell 134th Street Lofts, a newly built 124 unit property in Vancouver, WA. A traditional marketing and sales process was complicated by rapidly increasing interest rates during construction and lease-up. Timing was crucial, as market conditions were deteriorating, and the client relied upon us to maximize value before further market softening.
WHAT WE DID:
We pivoted from a broad marketing approach to a highly targeted strategy, sourcing multiple off-market offers while the building was still in lease-up. By focusing on the property’s quality as a best-in-class new construction in the desirable Vancouver suburb, we crafted a compelling story that positioned Vancouver as an appealing alternative to nearby Portland, which was experiencing post-COVID reputational challenges. We negotiated a sale based on the projected stabilization value, despite the property not reaching full occupancy until the week of closing.
RESULT:
Our off-market strategy attracted a 1031 exchange buyer, allowing for a quick sale at a record price for the Vancouver market. We closed the transaction as the building reached 95% occupancy, successfully securing “yesterday’s price today” amidst a rapidly cooling market.
Site Details
“I highly recommend Dylan and his team. This was our first sale of a large apartment building and Dylan expertly guided us through the process. At all times they were professional, communicative, and responsive. We couldn’t be more pleased with their extremely high level of diligence and service – and a great outcome.”
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