October 15, 2020
Los Angeles-based Trion Properties, along with JV partner AMC Investments, acquired Hood Apartments, a new-delivered 64-unit multifamily community in Gresham for $12 million. The property is situated on 2.8 acres at 1833 S.E. 6th St. and was sold by 550 SE Hogan Road, LLC.
Trion Properties’ Max Sharkansky says, “Much of Gresham’s existing housing was built prior to the year 2000. Hood Apartments, completed earlier this year, is a stand-out in the area that meets a high demand for newly developed and upgraded multifamily properties driven by a healthy local economy.”
Kidder Matthews’ Jordan Carter, Tyler Linn, Clay Newton and John DeJager represented both parties.
Carter says, “Hood Apartments is one of Gresham’s newest multifamily assets and will provide a significant supply of sizable two-bedroom units to a submarket in need of more family-focused housing.”
The deal for the vacant asset closed 14 days after the property received its CO. Continental Partners sourced the acquisition loan.
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