Rivage Apartments Rivage, a podium-style waterfront apartment complex, is located at 2220 NW Front Ave.

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PORTLAND, OR—On one of the last remaining waterfront sites in Portland, Rivage is a 260-unit fully stabilized multifamily community. Fore Property recently sold the asset to Magnolia Capital.

“Recognizing the vast potential for multifamily development, we’ve been active in the Portland metro area for several years. By adhering to our core values and executing with precision, we were able to provide a high-quality, stabilized rental community to the region that meets the everyday needs of its residents and offers contemporary conveniences in a prime waterfront location,” said Fore Property vice president Lee Novak. “This transaction demonstrates the success of Fore’s regionally tailored investment strategy and the quality of our approach and product, which enables us to consistently generate excellent returns for our investors.”

In 2017, Fore Property and funds from Carlyle Realty Partners VII, a fund sponsored by global investment firm The Carlyle Group, provided equity capital and PNC Bank provided financing to develop the North Pearl District apartment community.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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