LMC has announced that it has established a regional office in Portland and has hired Scott Rasmussen as senior development manager to oversee the market operations. The strategic additions occur as LMC enters the Portland market with two new apartment developments, Denizen and Amara. Both are currently under construction with Denizen set to open in 2020 followed by Amara in 2021.
“We were fortunate to find someone of Scott’s caliber to open this strategically important office for us,” said Brad Reisinger, division president of the Pacific Northwest for LMC. “LMC has been very deliberate in our entrance into the Portland market, initially managing these first two Portland developments from our Seattle office. But we believe in the city’s emerging presence and are committed to building a robust pipeline of multifamily communities in and around Portland.”
The new office represents LMC’s commitment to Portland and supports the company’s strategy to develop a sizable portfolio of apartment communities in the market. LMC plans to build upon the momentum gained from Denizen and Amara with future projects and aims to establish itself as a long-term participant in the Portland commercial real estate community.
“I’m eager to assist LMC’s pursuit to expand our presence in Portland,” Rasmussen said. “Portland has so much to offer residents: great entertainment, dining, outdoor recreation, nightlife and an overall high quality of life. I look forward to spearheading our efforts to expand LMC’s brand in the market while working diligently to be the best neighbors we can be.”
Rasmussen was born and raised in the Pacific Northwest, and earned his bachelor’s degree from the University of Oregon prior to earning a Master’s in Real Estate from the University of Washington. Rasmussen most recently served as director of development at AvalonBay Communities, where he worked since 2015 and previously spent five years with Zillow.
Rasmussen joins the team as LMC is in the construction phases of Denizen and Amara. Denizen is a 212-apartment midrise apartment community under development at 2050 Northeast Hoyt Street, near the confluence of the Eastside Industrial District and the historic Laurelhurst neighborhood. The community will feature studio, one- and two-bedroom homes.
Amara is being developed at 815 West Burnside Street on the southern edge of the Pearl District next to the Park Blocks. The 138-apartment community features a perfect Walk Score of 100 and prime connectivity to the West End neighborhood and Central Business District. The community will offer studio, one-, two- and three-bedroom apartment homes, a variety of high-end features and finishes and a prime amenity packages highlighted by a rooftop deck.