Earlier this week, Denver-based owner Grand Peaks hit approximately 11,000 units owned with the acquisition of West End District, a 424-unit, mixed-use multifamily community in Beaverton, Oregon, according to a press release shared with Multifamily Dive.
The Denver-based apartment developer and owner partnered with PCCP to buy the class A property, per the release. The asset’s approximately 34,262 square feet of ground-floor retail provides shops, dining and services to residents and the neighborhood.
“It is spectacular for the community in terms of providing amenities,” Grand Peaks President Chris Manley told Multifamily Dive. “But it does add a layer of complication from the operational point of view, making sure that we can find good tenants that are a value-add to the community and a good draw for the community to help residents and increase our retention.”
Manley said that Grand Peaks started looking at West End District almost 18 months ago. “Then we hit the pause button,” he said. “It came back around, and we revisited it.”
Grand Peaks and PCCP plan to make a few upgrades to the property, including a fitness center, a wellness studio and a pet spa, per the release.
“The site currently has, in our opinion, an undersized fitness center for the quality of the resident that we have and the size of the community,” Manley said. “We’ll take some of the retail space, build a much bigger, better new fitness area that will include a dog spa. We'll also add a package locker.”
Employment drivers
West End District sits in Washington County's “Silicon Forest,” a prominent technology and advanced-manufacturing corridor, per the release. The submarket provides access to major employers including Intel, Nike, Tektronix and Columbia Sportswear, as well as A-rated schools.
“There are a lot of high-paying jobs concentrated in and around the submarket,” Manley said. “We also like the fact that in Portland there's an absence of supply coming online. When we get a combination of a concentration of high-paying jobs and a dearth of new supply, it can generally translate into some pretty exciting returns for us.”
Freddie Mac financed the transaction and CBRE served as the sales and debt broker, per the release. Greystar will manage the asset, which was completed in 2021-2022, per the release.
In September 2025, Greystar announced a strategic partnership with Grand Peaks, adding nearly 11,000 apartment homes across seven states to the Charleston, South Carolina-based multifamily giant’s management portfolio.
With the West End District acquisition, Grand Peaks continues building its Pacific Northwest portfolio and its longstanding partnership with PCCP.
Brothers Luke and Nick Simpson founded Grand Peaks, which partners with institutional investors and family offices on multifamily deals, in 2003. The firm operates in eight markets with approximately $3 billion in assets under management and $1 billion of equity invested, per the release.
In July, Grand Peaks tapped Manley as its new president and Kevin Foltz as its chief investment officer as the firm expands its multifamily investment platform. Manley said the firm is planning to announce a new development in the mountains of Colorado in the next couple of weeks.
Acquisitions also appear to be an opportunity for Grand Peaks. Manley sees a window for the firm to add to its portfolio on an attractive basis. “It's going to provide some really interesting risk-adjusted returns for our investors,” he said.
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