October 20, 2016
Trion Properties acquired the 61-unit Hidden Villas in the Portland, OR submarket of Beaverton. The Los Angeles-based buyer paid approximately $7 million to acquire the asset from a private family investor. The buy is Trion’s fourth in the area.
Hidden Villas, at 14620 S.W. Farmington Rd., was delivered in 1968. The property consists of two separate parcels: a 56-unit apartment community, and an additional five-unit property adjacent to Farmington Road. The acquisition is a value-add play for Trion.
Liz Tilbury and Ben Murphy of Tilbury Ferguson Investment Real Estate, Inc. represented both the buyer and the seller in this transaction. Acquisition financing was arranged by Continental Funding Group through Intervest Bank ,with a loan-to-value of 70 percent.
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