Development.  Investment.  Management.

Alder Pointe Apartments is a 180-unit multi-family project located in Battle Ground, WA. PRINCIPAL PROPERTIES is the developer and asset manager. PRINCIPAL PROPERTIES overcame numerous challenges to complete the project on schedule and under budget. The project was completed in April 2017.

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As developer, PRINCIPAL PROPERTIES conducted extensive market research to determine the feasibility of a multi-family project in the sub-market. The analysis included a detailed study of supply, demand, rental rates and demographics to determine market depth, project size/type, renter demographics and investment potential. After determining the viability of the project, PRINCIPAL PROPERTIES performed all development duties including:

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• Due diligence and feasibility analysis

• Rezoned the property

• Obtained all entitlements, permits and approvals

• Budgeting and financial analysis for investors

• Integrated the project into the 32-acre Scotton Landing project  

• Secured construction financing and equity capital

• Selected the project team including architect, engineers, contractor and property manager

• Guided and approved the site plan, floor plans and building design

• Approved the construction and operating budgets

• Construction management

• Approved marketing and leasing plan

• Secured long-term financing

• Asset management