Greystar Acquires Portland-Area Asset
The property adds 423 units to the company’s portfolio.
Seven West at the Trails. Image courtesy of JLL
Greystar Real Estate Partners has acquired West at the Trails, a 423-unit property in Beaverton, Ore. The seller was LaSalle Investment Management. JLL brokered the transaction on behalf of the seller and secured a loan for the buyer.
Built in two phases completed in 1985 and 1996, Seven West comprises one- to three-bedroom units ranging from 631 to 1,107 square feet, Yardi Matrix shows. Apartments include walk-in closets, balconies or patios, as well as washers and dryers. The community offers amenities such as a clubhouse, two pools, a fitness center, a dog park and a barbecue area.
Located at 14790 SW Scholls Ferry Road, the property is 12 miles southwest of downtown Portland and less than 7 miles away from large employers such as Columbia Sportswear, Providence St. Vincent Medical Center and several tech companies. Murrayhill Lake, as well as many shopping, entertainment and dining options, are less than 1 mile north of the community.
Attractive market
The expansion of big employers, such as Nike, Intel and a number of growing technology and health-care companies in the Beaverton submarket, contributed to the investment’s appeal, according to Ira Virden, senior managing director at JLL.
The JLL Capital Markets team working on behalf of the seller included Virden, along with Senior Director Carrie Kahn and Associate Frank Solorzano.
Senior Managing Directors Charles Halladay and Andy Scott, Senior Director Jamie Kline and Vorsheck formed JLL’s Debt Advisory team that secured the loan for the buyer.
