July 10, 2018
Trion Properties acquired Pacific Crest Apartments, a 156-unit multifamily community in the Portland submarket of Tigard, OR, for $28 million from an unnamed private seller. This is Trion’s 10th acquisition in the greater Portland area in just over three years, bringing the firm’s multifamily portfolio in the region to nearly 700 units.
Trion Properties’ Max Sharkansky says, “We remain focused on the Portland metropolitan area, due to its long-term growth and the establishment of several major employers in the region, which has gained a reputation as the ‘Silicon Forest.’”
The property, originally built in 1974, is located at 10695 SW Murdock St. along the 217 Highway, and offers studio, one, two, and three-bedroom floorplans with in-demand features. Units are scheduled to undergo light value-add renovations, including the installation of new quartz countertops, stainless steel appliances, new cabinets, new vinyl floors, and Kevo door locks.
ARA Newmark’s Gail Neuburg and Samuel Lawhead represented both parties.
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