San Diego, CA – April 23, 2026 – Equity Street Capital (ESC), in partnership with Toro Properties, is pleased to announce the successful acquisition of Carriage Park Apartments, a 128-unit multifamily community located in Vancouver, Washington. The acquisition, completed in April 2026 in partnership with Toro Street, marks Equity Street Capital’s entry into the Pacific Northwest and represents an exciting milestone in the firm’s continued growth strategy.
Carriage Park Apartments is a well-located, highly occupied, and well-maintained garden-style apartment community offering a mix of one-, two-, and three-bedroom residences. Each apartment features desirable in-unit amenities, including full-size washers and dryers and private balconies, while residents enjoy access to a fitness center, swimming pool, covered barbecue area, and dog park.
“We are excited to enter the Pacific Northwest market through the acquisition of Carriage Park Apartments,” said Paul Esajian, Equity Street Capital co-founder. “Vancouver offers a compelling combination of strong population growth, economic diversity, housing demand, and affordability relative to nearby Portland. We believe this market aligns well with our long-term investment strategy and presents significant opportunities for value creation.”
Located within the Portland metropolitan area, Vancouver benefits from a unique cross-state advantage that continues to attract both residents and employers. Washington’s lack of a state income tax, combined with neighboring Oregon’s absence of a sales tax, creates an appealing financial environment for residents. The region has experienced steady population and employment growth, driven by its relative affordability and proximity to Portland.
The property also benefits from access to a diverse employment base anchored by major employers including TSMC, HP, and Fisher Investments, supporting long-term rental demand and economic stability.
Toro Street’s principals bring significant local expertise to the partnership, having previously participated in six acquisitions within the Vancouver submarket. Together, the sponsors plan to execute a targeted value-add strategy focused on property enhancements, amenity improvements, operational efficiencies, and enhanced onsite management to further elevate the resident experience and drive long-term value.
As Equity Street Capital continues to expand its national footprint, the acquisition of Carriage Park Apartments reflects the firm’s commitment to identifying high-quality investment opportunities in fundamentally strong markets.
“We look forward to building upon Carriage Park’s strong existing foundation for tenants and delivering an exceptional living experience for residents while creating value for our investors,” Paul added.
For additional updates on Carriage Park Apartments and future investment opportunities, stay connected with Equity Street Capital.
About Equity Street Capital: Equity Street Capital (ESC) is a San Diego-based commercial investment firm renowned for its focus on achieving attractive risk-adjusted returns while maximizing long-term capital appreciation. Founded by real estate investors and entrepreneurs Than Merrill and Paul Esajian, Equity Street Capital is dedicated to providing transformative real estate investment opportunities to it’s investors.
About Toro Street: Toro Street is a multifamily real estate investment firm focused on acquiring and operating high-quality apartment communities in growing, affordable markets. With 45 years of combined experience, their team has acquired and managed more than 90 properties and 20,000 apartment units across 9 states. We combine disciplined investing, operational expertise, and market insight to create long-term value for investors and residents alike.
