The CEP team has identified Vancouver as a top growth market that aligns with the firm’s investment goals. Clark County has strong local economic fundamentals with direct linkages to regional employment hubs. It has a diverse, well-educated labor pool to support long-term population and employment growth, and CEP believes these growth trends will accelerate in the coming years.
The Vancouver area offers a high quality of life while remaining relatively affordable. Located near the Washington-Oregon border, Vancouver is a popular choice for many people who commute to Portland for work.
The 5 Points Apartments community offers a variety of popular amenities. These amenities include a 24-hour fitness center, a clubhouse with business center pods, and an onsite 24-hour dog spa and bark park. The community is located within 15 minutes of downtown Vancouver by car and includes 1-bedroom and 2-bedroom units.
5 Points is CEP’s third acquisition in Vancouver since 2020. With this new apartment community, our portfolio has grown to nearly 400 units in Clark County and approximately 1,600 units in the Pacific Northwest.
We purchased the apartment community for $23.92 million, or $260,000 per unit. Ira Virden and Carrie Kahn of JLL-Portland represented CEP Multifamily on the acquisition.
At CEP Multifamily, we acquire market rate, suburban, multifamily housing communities in parts of the Northwest U.S. where we see future economic growth. We look for opportunities to improve the value of our properties through a disciplined approach to asset management and revenue-enhancing initiatives. Our goal is to generate compelling, risk-adjusted returns for our investors.
To learn more about our strategy, download our previous investment case studies.