2020 Offering Memorandum by cinw.com

LEGALDISCLOSURE

Theinformationcontainedinthismarketingbrochureisproprietaryand strictlyconfidential.Itisintendedtobereviewedonlybytheparty receivingitfromCommercialIntegrity,NWandshouldnotbemade availabletoanyotherpersonsorentitieswithoutwrittenconsentof CommercialIntegrity,NW Theinformationcontainedhereinhasbeen preparedtoprovidesummary,unverifiedfinancialandphysical informationtoprospectivepurchaserstoestablishapreliminarylevelof interestintheSubjectProperty.

THEINFORMATIONCONTAINEDHEREINSHALL NOTBEASUBSTITUTEFORATHOROUGHDUE DILIGENCEINVESTIGATION.

CommercialIntegrity,NWhasnotmadeanyinvestigation,andmakes nowarrantyorrepresentationwithrespecttotheincomeorexpensefor theSubjectProperty,thefutureprojectedfinancialperformanceofthe SubjectProperty,thesizeorsquarefootageandimprovements,the presenceorabsenceofcontaminatingsubstances,PCBsorasbestos, thecompliancewithlocal,stateandfederalregulations,thephysical conditionoftheimprovementsthereon,orfinancialconditionor businessprospectsofanytenant,oranytenant’splanorintentionsto continuetooccupytheSubjectProperty.Theinformationcontained hereinhasbeenobtainedfromsourceswebelievetobereliable; however,CommercialIntegrity,NWhasnotverifiedandwillnotverify, anyoftheinformationcontainedherein,norhasCommercialIntegrity, NWconductedanyinvestigationregardingthesemattersandmakes nowarrantyorrepresentationwhatsoeverregardingtheaccuracyor completenessoftheinformationprovided.Allpotentialpurchasers musttakeappropriatemeasurestoverifyalloftheinformationset forthherein.

CALLFOR PRICING

2020APARTMENTS

2020 SW Salmon St | Portland, OR

NRA GBA

Avg.Unit

SizeUnits

SiteSize

Type

YearBuilt

35,843SF(approx.)

46,697SF,percity records652SF

(approx)55037

Acres/15,900SF

Mid-rise/8stories

1963,percity records

Zoning Access

Construction

Roofing

A/C

Parking

RM4ResidentialMulti-Dwelling4, HighDensityUrbanDevelopment

SecuredEntry,Elevator-Served 7-storyconcretebuildingFlat,RoofTopDeck

Selectunits

30spaces(16garage,14surface)

BUILDINGIMPROVEMENTBREAKDOWN

INVESTMENTHIGHLIGHTS

ICONICMID-CENTURYMID-RISEAPARTMENTBUILDINGWITHOFF-STREET

PARKING

LocatedadjacenttoProvidenceParkandMultnomahAthleticClub(MAC), thelargestindoorathleticclubinthecountry.

DIVERSEUNITMIX

Offeringavarietyoffloorplansincludingstudio,one,andtwo-bedroom layouts

UNITAMENITIES

Spaciousunitswithdishwasher,disposalandmid-centurydetailing,includingTerrazzomarblefloors inmanybathroomsandTerrazzobacksplashesinthekitchen. Thereare35apartmentswith balconiesrangingfrom50-270sfwithsweepingviewsofdowntownandMt HoodortheWestHills

COMMONAMENITIES

Elevator,fitnesscenter,storagelockers,AmazonLocker,bicyclestorage,andon-sitelaundry facilities.Therooftopdeckboastsstunningcityviewsandisapopularhangoutwithresidentsin summer

STRONGDEMOGRAPHICS

3-mileradiusmedianhouseholdincomeof$80,457bordersPortland’sCentralBusinessDistrict(CBD) withmorethan100,000employeesand600+restaurants&retailbusinesses

ONEOFPORTLAND’SMOSTESTABLISHEDHISTORICNEIGHBORHOODS–GOOSEHOLLOW/KING’SHILL •3-4minutewalktolightrailfeaturingfourseparateMAXLinestopseastbound/westbound,Portland streetcar,PDXAirport,etc.

•LessthanamilefromPortland'sCentralBusinessDistrict JustafewblocksfromNW23rdAvenue withitsmixofupscaleretailandacclaimedrestaurants •96outof100WalkScore.

•OneblockremovedfromMACthelargestprivateathletic&socialclubintheUnitedStatesboastinga21,000+membership.

•AdjacenttoProvidencePark,hometothePortlandThorns&PortlandTimbers,stadiumcapacityof 25,000+fanswhichhostsover150eventsperyear

EXTENSIVECAPITALEXPENDITURESANDUPGRADES

Currentownershiphasinvested$591KinBuildingSystemsUpgrades(exclusiveofunitupgrades) The previousownercompletedarehabofthesubjectinabout2008/09 Theserenovationscost approximately$1.7millionandincludedaddingtherooftopdeck,repaintingthebuilding, replacementofallappliances,redesignandrehaboflobbies,redesignandrehabofallother commonareas.

PROFORMA

DEMOGRAPHICS

Subject Property

AMENITYMAP

NEIGHBORHOODMAP

GOOSEHOLLOWPROFILE

The2020BuildingislocatedintheGooseHollow neighborhood,justwestofdowntownPortland.It isoneofthecity’soldestandmostcharming neighborhoodswithamixofhistoricQueen Annevernacularcottagesandapartments, neighborhoodcommercial,moderncondosand amajorleaguesportsstadium,ProvidencePark.

Itishometoaworld-classathleticclub,oneof thelargestinthecountrywith20,000members, andisminutesawayfromhikingtrailsand WashingtonParkwithitsacclaimedInternational RoseTestGardenandtheJapaneseGardens.

TherecentlycompletedLincolnHighSchoolwith itsattractivemoderndesignandexcellent academicreputationisalsointhis neighborhood.

PortlandStateUniversity,whichwelcomed16,423 undergraduateand4,617graduatestudentsin 2023,islocatedamileawaywitheasyaccess bycar,bike,busorMAX.

PORTLANDMULTIFAMILYMARKET

SupplyanddemanddynamicsinPortland'smultifamilymarketare beginningtoshiftasabsorptionreached1,700unitsinthethirdquarterof 2024,markingthesecond-highestlevelinthepastthreeyears.The previouslyheavyimbalanceseenfrommid-2022tomid-2023hasbegun torecalibrate,drivingthecurrentvacancyrateto4.5%,anotable27% decreasesincespring2024,accordingtotheMultifamilyNWFall2024 Report.

Year-over-yearrentgrowthof0.8%isonparwiththenationalaverage, reflectingstabilizedperformanceinthemarket.Overthepastdecade, Portlandhasaveragedannualrentgrowthof3.5%.Inthepastyear, buyershavepaidanaverageof$10millionpertransaction,withreported capratesintheupper5%range.

Portland'sapartmentconstructionpipelinecurrentlyincludes4,000units underdevelopmentasofthefourthquarterof2024,representinga1.7% expansionofexistinginventory.Netdeliveriesoverthepast12months totaled7,900units,whileabsorptionreached6,500unitsduringthesame period,signalingamarketapproachingequilibrium.Sincethenumberof newunitsbeingpermittedisnearinghistoriclows,therentalmarket shouldcontinuetoimprovesubstantiallyoverthenextfewyears.

Thesalesmarketisexpectedtogainmomentumin2025asinvestors sensethatpricingisnearingitsfloor.Thisperceivedstability,combined withthepotentialforfurtherinterestratereductions,islikelytodrive increasedactivity.Althoughvaluesremainbelowtheirpeak,therecovery ofapartmentfundamentalsandimprovinginvestorsentimentsuggesta pathtowardgradualimprovement.Today’smarketoffersopportunities notonlytobuyatreducedprices,buttoacquireassetswhicharenot oftenofferedforsaleandaretypicallyheldlongterm,astheyare irreplaceableassets.

PORTLANDECONOMY

Portland,Oregonremainsadynamiccenterforinnovationandeconomic growth,drivenbyauniquemixofindustries,populationtrends,and evolvingchallenges.Asof2024,theregioncontinuestoleverage significantopportunitieswhilenavigatingchallengessuchasrisingcosts, housingconcerns,andshiftingworkforcedemands.

Portlandsunemploymentrateof3.9%remainsslightlybetterthanthe nationalaverageof42% Emergingjobsectorsincludebiotechnology, wherefirmsareincreasinglydrawntoPortland’srelativeaffordabilityand skilledworkforce Oregonisalsoattheforefrontoftheexpandingmass timberindustry,withtheOregonMassTimberCoalitionfundinganew factory,researchlab,andfabricationfacilityatthePortofPortland’s Terminal2.Thisfutureinnovationhubisdesignedtoadvancethe developmentofsustainablewoodproductsforarangeofrealestate applications.

ThesoftwareandITsectorhasexperiencedsignificantmomentum,with employmentgrowingby59%overthepastdecade.Oregonisnowhome tomorethan5,300softwareandITbusinesses,accordingtoBusiness Oregon.

Portlandseconomyissupportedbymajoremployers,suchasInteland Nike.NikerecentlyexpandeditsworldheadquartersinBeavertonwithan additional1.4millionsquarefeetofofficespace,whileIntelannounced furtherinvestmentsinitssemiconductoroperationsinHillsboro.The healthcareindustryisanothercriticalcomponentofthelocaleconomy, withOregonHealth&ScienceUniversity,ProvidenceHealthServices,and LegacyHealthleadingthesector.LegacyGoodSamaritanMedicalCenter andOHSUarebothlocatedwithin10minutesofthe2020Building. HighereducationalsoplaysasignificantroleinthePortlandeconomy. PortlandStateUniversity,locatedjustonemilefromtheproperty,serves asbothamajoremployerandacenterforworkforcedevelopmentinthe region.