Portland
Security Properties Snags $81M OR Community
In a joint venture with Cigna Investment Management, the company purchased Arbor Heights, a 348-unit Class A garden-style community. This purchase marks the partners’ fourth acquisition.
Trion Properties Expands Portland Portfolio
The $12.3 million transaction marks the company’s third acquisition in the city of Beaverton, Ore. Trion plans to implement a renovation plan, including improvements made to the exterior and interior of the property.
Job Growth Firm, Rent Growth Totters in Portland
The metro’s strong employment growth is pushing up multifamily demand, especially for market-rate apartments. Nearly 8,400 units were underway as of August, of which some 3,200 units are slated to come online by December.
Portland Community Lands $14.5M Refi
The Altoma Real Estate Advisors were responsible for arranging the mortgage services for Tess O’Brien Apartments. The borrower was backed by key principal Martin Kehoe.
CBRE Facilitates $19M Sale of OR Community
The company represented the seller, Barclay Cascade investors LLC in the transaction. The property’s average monthly rent was $1,204 as of September.
Top 10 Portland Apartment Owners
Demand is on the rise in the city again, after three years of increased development. Rent growth continues to slow down and is now on par with the national average.
Apartment Community in Portland Area Trades for $11M
An apartment community in Longview, Wash., changed hands between private investors in a $10.6 million deal arranged by Marcus & Millichap.
Campus Advantage Adds New VP
Lindsay Brown has more than 14 years of marketing and leasing experience in the student housing industry. Previously, she worked at Asset Campus Housing for nine years.
HFO Investment Secures $58M OR Sale
Built in 2007, the community offers one-, two- and three-bedroom units. Latitude is in close proximity to various retail, dining and entertainment venues.
On the Market: 5 Interesting Listings for the Week of 8/28
This week’s listings include a newly renovated property in Whittier, Calif., with an abundance of amenities and a historic asset with original 1912 architecture in the trendy Portland neighborhood of Hollywood.