June 1, 2016
Downtown Portland apartment complex sells for $7.3M
The Ambassador Apartments, an 86-unit apartment complex in Portland’s downtown, has been sold for $7.3 million.
The Portland Press Herald reports that Vince Ciampi, a broker at CBRE|The Boulos Co., represented the sellers, Shirley Quirk and the estate of John J. Quirk & Sally Quirk. The buyer, Ambassador LLC, was represented by Joe Porta, a partner at Boulos.
The 86-unit apartment at 37 Casco St. largely consists of studio apartments, most of which are currently occupied, according to the Press Herald.
Read more
Complex fully occupied, yet sells at post-recession discount
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