Ladd Acquired by PCCP | Real Estate Services M&A Deal

PCCP has completed the acquisition of Ladd, a real estate development business in Oregon, for $63.3 million. Ladd is a 332-unit, 23-story value-add multifamily property at 1300 SW Park Avenue in downtown Portland, built in 2009 and operating at about 95% occupancy. PCCP acquisitions in real estate services M&A focus on value-add real estate development acquisition strategies, including planned interior renovations to Class A standards and select amenity upgrades. The PCCP acquisitions were executed through a platform acquisition joint venture with Guardian Real Estate Services, targeting a discount to replacement cost amid improving downtown Portland fundamentals. The private equity acquisition is categorized as an announced platform acquisition with a $50M–$100M deal size range.