INVESTMENT OVERVIEW

The Pacific Northwest Investment Sales Team of IPA has been retained as the exclusive listing broker for the sale of YARD, a prominently located 284-unit luxury mixed-use high-rise with sweeping views of the Portland skyline. Perched above the Willamette River at the geographic center of Portland, YARD enjoys unobstructed view corridors in all directions and features some of the most stunning vistas of any residential building in the city.

Located in Portland’s dynamic Central Eastside neighborhood, YARD offers unmatched connectivity with five bridge access points into the CBD and Pearl District. The property is also directly served by the Portland Streetcar, Interstate 84, and Interstate 5, providing exceptional regional accessibility.

The Iconic 21-story tower is strategically rotated along the river and oriented to maximize connections with Portland’s urban landscape. YARD showcases striking architectural features and attention to detail, with the core concept of combining groundbreaking design and functionality for its residents. The community offers a collection of studio, open one-, traditional one-, and two-bedroom homes averaging ±682 square feet. 14 penthouse units are located on the top floor.

YARD provides residents with the quintessential live, work, and play experience, featuring a robust amenity package tailored to today’s active urban renter. Multiple outdoor spaces, co-working areas, resident lounges, and a state-of-the-art fitness center set the property apart from its competitive set. The building also includes ±25,983 square feet of ground-floor retail, that was recently 100% leased. The anchor tenant, Knot Springs, a highly acclaimed health and wellness social club.

Award-Winning High-Rise with Expansive Views

YARD sits at the geographic center of Portland, perched above the Willamette River with protected view corridors in multiple directions.

Deep Discount to Replacement Cost

The construction cost index has increased by ±60% since YARD was completed, which leads to an estimated reproduction cost in the realm of $600,000/unit for YARD today.

Vibrant Retail Anchored by High-Profile Knot Springs

Portland’s most popular wellness club is synonymous with the building and expresses long-term commitment to the property with potential expansion. Additionally, a recently accepted LOI will bring the retail occupancy to 100%.

Rental Upside in Rebounding Core Market

Moody’s projects Portland’s effective rents will grow 2.8% in 2025 and 3.8% annually over the next five years, surpassing the 3.2% national average, while high-rise vacancy is at its lowest point since 2015.

Limited Supply in Highly Sough-After Submarket

Portland is experiencing its lowest level of multifamily development since 2011, with new construction volume down more than 85% from peak levels.