CBRE Arranges $11M Metro Portland Sale
CBRE’s Phil Oester, Joe Nydahl and Josh McDonald worked on behalf of the seller in the disposition of a townhome-style community in Tigard, Ore.
By Adina Marcut
The Reserve at Ashbrook
The Reserve at Ashbrook, a 43-unit community in Tigard, Ore., has changed hands. Phil Oester, Joe Nydahl and Josh McDonald of CBRE secured the transaction on behalf of the seller, Mach 1 GE-Ashbrook LLC, after it recently represented the buyer, Anwar Faisal, in a Massachusetts community sale. Chicago-based Back Nine Acquisitions acquired the asset for $10.6 million.
Located at 9378 SW Mandamus Court, the property is close to highways 217 and 26 and offers convenient access to Washington Square Mall, 7-Eleven, Office Depot, Starbucks and Disrksen Nature Park. The two-story, townhome-style community offers a mix of one- and two-bedrooms units.
Built in two phases, one in 2009 and the second in 2012, The Reserve at Ashbrook features in-unit and common amenities such as:
- granite countertops
- dog area
- walk-in closets
- stainless steel appliances
- patio or balcony
“The Reserve at Ashbrook presents a rare opportunity to own an institutional-grade property in the expanding Tigard submarket of Washington County,” Phil Oester, senior vice president of CBRE, said in prepared remarks. “The townhome-style apartments with attached garages in the market today are highly sought after from investors due to scarcity within the marketplace.”
Image courtesy of CBRE
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