Vista Investment Group (“Vista”) has closed on the sale of The Pointe, a 387-unit multifamily property in Vancouver, WA marking the firm’s successful exit of four investments in the past five weeks in transactions totaling $334 million. 

The four assets, which also included Vasona Technology Park, a 314,000-square-foot office campus in Campbell, CA; Valley Creative Center, a 167,000-square-foot office and R&D campus in San Jose, CA; and Echo Pointe, an 80-unit multifamily property in San Diego, CA were acquired by Vista between 2016 and 2019.   Other than Valley Creative Center, which was sold after Vista received a compelling off-market offer, each of the investments was a planned sale after Vista met or exceeded its business plans, according to company President Jonathan Barach. 

“These dispositions represented opportunities to markedly outperform our pro forma and return money to our investors. We look forward to the challenge of re-deploying equity into new opportunities in our target markets, and repeating that process,” said Barach.  

The sale of The Pointe comes only two years after Vista and its partner acquired the garden-style community, then known as Green Leaf River Pointe.  Under Vista’s direction, the joint venture completed a unit renovation program that included new flooring, upgraded lighting fixtures, stainless steel appliances and refreshed cabinets and countertops.  The clubhouse, pool deck and outdoor amenities were also upgraded. 

Josh McDonald, First Vice President in CBRE’s Institutional Multifamily Investment Service’s team out of the Portland, OR office, represented Vista in the transaction.  

With the sale of the four assets, which significantly enhances Vista’s internally-capitalized balance sheet, the company is targeting the acquisition of multifamily and flex R&D commercial office property in Denver, Salt Lake City as well as key markets in the Pacific Northwest.