December 9, 2019
Trion Properties acquired a portfolio of three multifamily assets totaling 162 units in the Portland metro for $26.05 million. The portfolio was acquired from NBP Capital.
The properties include Aster Parc Townhomes, a 62-unit community in Aloha (pictured); Parker Apartments, a 48-unit community in Beaverton; and York Apartments, a 52-unit community in Tigard.
Trion Properties’ Max Sharkansky says, “The three multifamily properties in this portfolio are of 45-to-50-year vintages and have been well-maintained and modernized with capital improvements in recent years. Based on our experience with similar properties in the submarket and existing community relationships, we are ideally positioned to enact our proven strategy of light renovations, rebranding, and efficient, hands-on management to quickly unlock further upside potential and maximize return-on-investment.”
HFO Investment Real Estate’s Rob Marton represented the buyer. Continental Partners arranged a $19.06 million loan to finance the acquisition.
The acquisition of this portfolio brings Trion’s greater Portland area holdings to nine properties, totaling approximately 650 units.
For comments, questions or concerns, please contact Dennis Kaiser