Portland Multifamily Investors Are Voting With Their Money

HFO Broker Lee Fehrenbacher wrote an editorial published in the most recent Revitalize Portland Coalition newsletter, available for download at RevitalizePortland.com, about how "Investors are re-evaluating whether the City that Works actually pencils in the face of growing homelessness, crime, increasing governmental regulations, and one of the highest tax rates in the country."

"Last year, according to one local 1031 exchange company, of the 207 transactions totaling $220 million in Portland-based sales it saw come through its office, only 35 investors accounting for roughly $55 million remained in Portland with their replacement properties. Statewide, the same accommodator saw $435 million of $900 million in total sales exit Oregon via 1031 exchanges," Lee writes. 

However, there is light at the end of the tunnel, notes another newsletter article: "Tourism spending in Portland in 2022 exceeded $5 billion for the first time since 2019, the last year unaffected by COVID-19."

Read both articles in the Revitalize Portland Spring newsletter, available at RevitalizePortland.com.