The Reliant Group of San Francisco has purchased the Parklane Apartments (10223 NE Notchlog Drive) for $14.5 million from the Vancouver Housing Authority.
Reliant acquired the Hazel Dell property last month through an allocation of 4 percent tax credits and bonds from the Washington State Housing Finance Commission. The group intends to begin a $6 million renovation of the 260-unit complex immediately.
The Parklane Apartments are limited to income-restricted households. The complex will remain that way for 15 years.
Representing both parties in the transaction was Sperry Van Ness/Bluestone & Hockley.
