Trion Properties Buys Another Portland-Area Apartment Complex for $10.5 Million
Weeks after West Hollywood, California-based multifamily investor Trion Properties purchased the Pacific Crest apartments in Tigard, Oregon, the firm bought another Portland-area apartment complex. This time, Trion bought the 84-unit Springbrook Gardens in Aloha, Oregon.
The multifamily investor purchased the apartment complex from a private investor taking title as Springbrooks Ventures LLC.
According to the firm’s website, Trion specializes in acquiring real estate investments that need moderate to heavy improvement and typically holds assets from three to seven years. With this purchase, the firm now owns 10 properties in the Portland metropolitan area, including the 76-unit Hallwood Apartments in Beaverton and the 74-unit Beverly Grove Apartments in Portland.
Located at 6300 SW 118th Court, Springbook Gardens offers a mix of one- and two-bedroom floorplans, ranging in size from 700 to 850 square feet, across 20 garden-style buildings, according to CoStar data.
Liz Tilbury and Benjamin Murphy of Tilbury Ferguson Investment Real Estate brokered the deal on behalf of the seller and the buyer.
Article Source: CoStar.com