Auction Announced for 17 Premier Waterfront Homes at Pacifica Tower, Portland's Newly-Developed and Already 80 Percent Sold Condominium

Accelerated Marketing Partners to Conduct Sale for Best and Last of Riverfront Homes, Located Near the City's Pearl District, on Apr. 10 with Minimum Bids Starting from $115,000. End Quote

Portland-Vancouver, OR-WA (1888PressRelease) March 19, 2011 - Accelerated Marketing Partners recently announced it will conduct an auction for 17 new development, waterfront condominium homes at Pacifica Tower, situated along the Willamette River and adjacent to Portland's Pearl District, which is well-known for its cultural, architectural and artistic attractions. To date, more than 80 percent of the building has successfully sold and the remaining available homes are some of the finest the property has ever offered. The event will be held at 4:00 p.m. on Sun., Apr. 10 at the Marriott Portland Downtown Waterfront, located at 1401 SW Naito Parkway in Portland. Minimum bids for residences available at the sale range from $115,000 to $695,000 and are up to 67 percent below previous asking prices, which were as high as $1.425 million.

The auction information center and model homes for Pacifica Tower are open daily through Apr. 9 at 1830 NW Riverscape Street in Portland from 10:00 a.m. to 5:00 p.m., and on Thursdays until 7:00 p.m. Advance registration for the auction is required, and financing is available for qualified buyers through MetLife Home Loans or Home Street Bank. Additional information is available at www.AuctionPacifica.com.

"The Pacifica Tower auction is an incredible opportunity for prospective homebuyers to purchase some of the development's most appealing inventory at never before seen prices," said Ken Stevens, west coast CEO of Accelerated Marketing Partners. "My colleagues and I have extensive experience with the Portland market through our previous success at the unprecedented Atwater Place auction, which generated over $19 million in residential sales in under 90 minutes. We anticipate this being a similar situation and see the auction being another step towards adjusting values for both Pacifica Tower and Portland's local housing market at large, which was one of the last and hardest hit by the recession."

The variety of one- and two-bedroom homes available at auction in the eight-story, 73-unit condominium feature 10-foot ceiling heights, and expansive windows and private decks or patios that are designed to maximize views of the stunning city skyline encompassing the Willamette River, Mt. Hood, the West Hills, and Forest Park. The 17 residences are ready for immediate occupancy and include:

Six open-plan, one-bath homes ranging in size from 663 square feet to 871 square feet, with minimum bids ranging from $115,000 to $195,000. Minimum bids are up to 61 percent below last asking prices, which were as high as $499,900.

Eight two-bedroom, two-bath homes ranging in size from 1,268 square feet to 1,996 square feet, with minimum bids ranging from $245,000 to $595,000. Minimum bids are up to 67 percent below last asking prices, which were as high as $1,399,900.

Three two-bedroom, 2.5-bath homes ranging in size from 1,478 square feet to 2,106 square feet, with minimum bids ranging from $295,000 to $695,000. Minimum bids are up to 57 percent below last asking prices, which were as high as $1,424,900.

While no two homes at Pacifica Tower are exactly alike, each has been finished with beautifully detailed kitchens featuring slab granite countertops, stainless steel gourmet appliances and sleek warm wood cabinets. Baths boast fine European fixtures and large soaking tubs. Residents also enjoy the architectural elements of the development's landscaped courtyard and strolling along the nearby Greenway Trail and riverfront walkway. As an added convenience, all homeowners are provided with private underground and monitored parking.

Located just steps from Portland's Pearl District, which has established a worldwide reputation for its trendy, cultural arts scene, Pacifica Tower offers the conveniences of city living without foregoing the casual elegance that its river and mountain views afford. The Pearl District offers more than 100 city blocks of fine dining, restaurants, shopping, art schools, museums and more, and was dubbed one of the "Top-Five Places to Retire" by Kiplinger Magazine. Residents have convenient access to The Portland Streetcar as well, connecting them to everything from the Riverplace neighborhood to Nob Hill's business district. Portland is also widely-considered the most bicycle-friendly town in America, where bike racks, lanes, and safety are one of the city's top priorities.

For more information about Pacifica Tower and the upcoming auction, please call 503-259-3744 or visit www.AuctionPacifica.com.

Accelerated Marketing Partners (AMP)
Accelerated Marketing Partners, a full-service residential real estate firm with offices in Boston and Danville, Calif., specializes in the development and implementation of both accelerated and conventional marketing and sales programs. The company has brought together the industry's most seasoned professionals with decades of experience providing strategic marketing solutions for residential real estate developments nationwide. Accelerated Marketing Partners offers comprehensive integrated services including detailed marketing analysis, management of on-site sales initiatives and accelerated marketing campaign development and implementation. Accelerated Marketing Partners is comprised of Accelerated Marketing Partners, LLC, the firm's east coast division; and Accelerated Marketing Group, Builder Marketing Services, LLC, the firm's west coast division. www.acceleratedmp.com.

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