Passive House Certified Apartment Building Sells For $6.75M
Kiln Apartments, one of the nation’s first mixed-use projects to achieve the prestigious Passive House certification, has sold for $6.75M. Built in 2014, the Kiln Apartments beat Portland’s energy-efficiency standards by up to 75%.
Taking into consideration the building’s retail space, which makes up 20% of its square footage, each of its 19 residential units brought in approximately $284k for a total of $5.4M, or 80% of the total sale price, the Portland Business Journal reports. The new owner of the building, at 33 N Beech St, has chosen to remain anonymous. [PBJ]