WEST LINN, Ore., June 8, 2021 /PRNewswire/ -- MWest Holdings, a Los Angeles-based real estate and investment firm with over 2.5 million square feet of residential and commercial property across the U.S., today announced its first deal in the Portland metropolitan area and the state of Oregon, with the acquisition of Larkspur West Linn, a 43-unit apartment community, located on a 2.5-acre wooded lot at 19500 Hidden Springs Road in the city of West Linn.

The beloved suburb of West Linn, adjacent to Lake Oswego, is only 12 miles from Downtown Portland and 20 minutes from Portland's central business districts. As one of just five 40+ unit properties in the city, Larkspur is situated in an area experiencing high demand for multifamily housing. The convenient location provides residents with access to thousands of jobs from major employers including Nike, Intel, Amazon, Google, and Oracle, while maintaining the suburban charm of the city. Families are drawn to West Linn as it is the second-best school district in the state. Surrounded by hills and forests, the city is home to 17 parks across 600 acres including Mary S. Young Park alongside the Willamette River.

Built in 1978, Larkspur underwent a major renovation in 2019 where the building envelope was upgraded with new windows, decking, roofing, and siding. The unit mix includes studio, two- and three-bedroom homes with an average size of 1,069 square feet. Interiors consist of vaulted ceilings, stainless steel appliances, quartz countertops, designer backsplashes, washer/dryers, plank flooring and large decks. The community features a newly upgraded dog park, BBQ/picnic area, fire pit, resident garden, ample parking, and beautifully manicured grounds. MWest plans to add two new amenities to the property: an indoor fitness center, due to the lack of available gyms in the area, and a Parcel Pending Locker, which will safely store resident's packages.

"As our first deal in Portland, MWest is excited with the purchase of Larkspur, which represents the acquisition of an in-demand asset in a thriving location," said Karl Slovin, President of MWest Holdings. "To the same degree as our broader multifamily portfolio, the focus for Larkspur will be on ensuring a delightful living environment both new and existing residents will enjoy."

About MWest Holdings. MWest Holdings is a vertically integrated real estate investment and property management company with over 2.5 million square feet of residential and commercial property across the United States. Founded in 1991, MWest is known for creating innovative development solutions that instill a sense of neighborhood and integrity and create a lasting, tangible value. The company specializes in enhancing classic, core-plus and value-add properties, as well identifying opportunistic strategies that showcase fine or historic architecture and invigorate the culture and aesthetics of communities they serve. As a highly successful and stable owner and operator of real estate, MWest has continually employed sound business practices, low leverage and stringent underwriting guidelines for each investment opportunity. The company's success is anchored in a philosophy that imagination is the only limiting factor to growth.

MEDIA CONTACT: Kyle Kokkales ? 818.501.5600 ? [email protected]

 

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SOURCE MWest Holdings