Cherry Blossom

UAA recently announced the successful disposition of the Cherry Blossom Apartments (32 Units) in The Dalles, Oregon. UAA identified The Dalles as an ideal investment market due to its proximity to Portland, weather, affordability, and recreational draws. In addition to these factors and abundant hydro power, The Dalles has made an ideal home for data center expansion projects such as Facebook which has propelled job growth, population growth and community revenue in Wasco County.

UAA was able to secure the purchase of the property off market through local broker connections and was able to grow revenue substantially through diligent asset management along with minor cosmetic upgrades. We sold the project in the Spring of 2021 to a Portland based 1031 buyer. This asset was sold at a time when investors were flocking to secondary markets to diversify outside of Portland.