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Private Buyer Snags Beaverton Apartments in $21.5M Disposition
Multifamily investment firm Trion Properties has sold The Hallwood Apartments, a 76-unit apartment community in Beaverton, OR. The buyer, a private investor, purchased the asset for $21.5 million.
“As multifamily absorption rates rise in the Portland CBD, we are observing increasing leasing activity in nearby submarkets, including Beaverton,” said Trion Partner and Director of Acquisitions, Farhan Mahmood. “Beaverton is known as ‘The Silicon Forest’ due to its cluster of prominent technology companies including Intel, Genentech and Apple.”
Constructed in 1986, The Hallwood Apartments is a garden-style community comprised of one- and two-bedroom units. Amenities include a swimming pool, covered parking and an on-site leasing office. During ownership Trion implemented a series of renovations including new paint and roof repairs, along with quartz countertops, stainless steel appliances and new cabinets inside the units as well.
Liz Tilbury at Tilbury Ferguson Investment Real Estate represented both parties in the transaction.
- ◦Sale/Acquisition
