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TUALATIN, ORE. — Institutional Property Advisors (IPA) has arranged the $15.9 million sale of River Lofts, a 74-unit property in Tualatin, about 12 miles south of downtown Portland, Oregon. Next Wave Investors was the seller. The buyer was FPA Multifamily. River Lofts, which was developed in 1974, has been renovated by Next Wave as well as other previous owners. Anthondy Palladino and Georgie Christensen-Riley of Marcus & Millichap and IPA’s Philip Assouad, Giovanni Napoli, Nick Ruggiero and Ryan Harmon represented the seller and procured the buyer.