Pearl District apartment building sells

Pearl District apartment building sells

The Asa Flats & Lofts building sold for $105.5 million, the largest sale in the Portland area this year.

Seattle-based Unico Properties and its joint venture partner, Cigna Investments, said they sold Asa Flats & Lofts at 1200 N.W. Marshall St. to a company affiliated with Invesco Advisors Inc. The deal closed June 16 for the 16-story, 231-unit building.

The building was 99 percent occupied at the time of the sale, Unico said. The company, with Cigna, built the apartment building in 2008 as part of a two-block development. On the block to the west is The Lovejoy, an 80,000-square-foot office building with a Safeway on the ground floor.

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