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Trion Properties Completes Disposition of Portland Area Assets
Trion Properties, a multifamily real estate investment firm based in California and Florida, completed the disposition of York Apartments, a 52-unit multifamily property located in Tigard, Oregon.
“The sale of York is the third disposition in a group of garden-style apartment properties that we acquired in the Portland region in 2019,” comments Max Sharkansky, Managing Partner at Trion Properties. “When factored together, the sale of the three-asset portfolio generated an IRR of more than 29 percent.”
Trion sold York Apartments for a total consideration of $10.85 million–approximately $209k per unit. After a 48-month hold, the single asset had an IRR of 13.75 percent and an equity multiple of 1.48. The other assets in the portfolio—The Parker and Aster Parc Townhomes—sold in May and July of 2022, respectively, and substantially boosted the three-part portfolio’s return, increasing the EM on the entire transaction portfolio to 2.11.
