Westland Investors announced the successful acquisition of Tall Oaks Apartments. Located on SW Caldwell Road in Gladstone, the 64-unit apartment building’s closing price was $10,150,000. Westland worked closely with Greg Frick and Tyler Johnson of HFO out of Portland, Oregon to purchase the property from Jendi Properties.
The exterior of Tall Oaks was recently renovated by the seller; Westland plans to focus efforts to bring the interiors up to the quality of the exterior finishes. Interior improvements will vary by unit, and will include new appliances and floor coverings as a part of the upgrade package.
The complex is located in a quiet residential neighborhood with easy access to Portland and other major arterials. As part of a new initiative for Westland to enliven multifamily housing properties it owns, there are plans for an art integration project at the complex.
According to Westland’s Managing Partner, Alexandre Audie: “Tall Oaks represents an ideal opportunity for us to continue our mission of delivering returns to residents, communities, and investors; we look forward to investing in this community in the years to come.”