Vanamor Acquires Blanton Commons, a 32-Unit Apartment Community and Single-Family Home in Beaverton, Oregon
As the pandemic causes a dislocation in the multi-family industry, Vanamor finds opportunities amid the uncertainty.
SAN DIEGO, May 11, 2020 (Newswire.com) - Vanamor Inc., a private San Diego-based real estate investor and operator, has announced the acquisition of Blanton Commons in Beaverton, Oregon.
Blanton Commons is a 32-unit apartment community built in 2018 as well as a historic single-family home commonly known in the community as M.E. Blanton House. The property is located in one of Portland’s most sought-after communities and is situated between Nike’s world headquarters to the east and Intel’s Aloha campus to the west. The immediate location offers residents access to major employment centers and adjacent to the TriMet bus line which connects to both the WES commuter rail and MAX light rail. Other nearby high-tech companies include Airbnb, Nvidia, Salesforce, and more. Vanamor plans to enhance the unit interiors with light interior upgrades and significantly expand the property through the addition of common area amenities.
According to Bobby Larsen, Vanamor’s Principal and Chief Executive Officer, “Having acquired over 2,300 units in the Portland MSA through other joint ventures, we are excited to bring the dynamic growth market to Vanamor’s portfolio. As we have already seen through the resiliency of the property during the pandemic, Blanton Commons is not only insulated from downward pressures but also well-positioned to capitalize on future growth trends.”
Blanton Commons marks Vanamor’s first acquisition in the Portland market. The Company is targeting further acquisitions in Oregon, Washington, Arizona, California, Texas, Florida, Colorado, and Nevada. The Company focuses on long-term, moderately leveraged opportunities that deliver outsized market returns and is actively looking to partner with new investors.
Vanamor (www.vanamor.com) is a privately owned real estate owner and operator investing in multi-family assets for private investors. The Company is led by leaders in the industry that have collectively acquired over 31,000 units representing a total value of over $6 billion throughout their careers. Vanamor is vertically integrated with in-house expertise in acquisitions and underwriting as well as asset, construction and investment management.
Contact:
Bobby Larsen, Vanamor
(949) 697-1108
blarsen@vanamor.com
Source: Vanamor