Wednesday, February 13, 2013

EcoFLATS Apartments sold for $4.3M

Three limited liability corporations tied to Portland investors Paul Barker, Nora Barker and John Barker paid $4.3 million for ecoFlats Apartments, an 18-unit complex at 3935 N. Williams Ave. in Portland.

Developers Jean-Pierre Veillet of Siteworks Design | Build and Doug Shapiro constructed ecoFlats as a sustainable mixed-use community showcasing the best of sustainable design. The design includes energy saving features and a monitor in the lobby that shows power use in real time. The building has a 21-watt photovoltaic array on the roof as well as solar thermal panels that deliver energy to the building and heats 600 gallons of water a day.

The Portland Development Commission supported the project.
The 18 units and 3,700 square feet of retail space are fully leased.

Robert Black of NAI Norris, Beggs & Simpson represented the seller, 3935 N. Williams LLC.
The new owners acquired the property as Ecoflats 1 LLC, Ecoflats 2 LLC and Ecoflats 3 LLC, according to property records.

Portland Business Journal:

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