February 13, 2018
San Diego-based MG Properties Group acquired Thorncroft Farms Apartments in Hillsboro, OR from Berkshire Group for $97.5 million. Thorncroft is a 340-unit, garden-style, apartment community built in 1998 that the new owner plans to continue an interior upgrade program in progress and enhance common area amenities.
The property is located in one of Portland’s most sought-after Westside communities. It is situated across the street from Whole Foods, Kaiser Permanente Westside Medical Center, and the Streets of Tanasbourne lifestyle retail center, and near employment campuses of Nike, Airbnb, Nvidia, and Salesforce.
HFF’s Ira Virden and Carrie Kahn represented the seller. Financing was arranged by CBRE’s Brian Eisendrath and Cameron Chalfant.
For comments, questions or concerns, please contact Dennis Kaiser