440-Unit Arbor Creek Property in Beaverton Trades Hands
- Oct 11, 2014
Arbor Creek, a large multifamily property in Beaverton, Ore., recently traded hands. The new owner is Jackson Square Properties, an entity that acquired the residential asset from seller Holland Partner Group in a transaction that was arranged by commercial real estate and capital markets service provider HFF. The HFF investment sales team that arranged the deal was led by director Ira Virden and associate director Kerry Hughes. Financial terms of the agreement were not released.
Located at 3280 SW 170th Ave., the residential community occupies about 22 acres. The 440-unit asset is located just 1.5 miles away from Nike World Headquarters, and 10 minutes away from the Intel Ronler Acres Campus and other major employers. The residential units at Arbor Creek have an average size of 768 square feet and are available in one- and two-bedroom floorplans. The property was renovated just last year and offers an amenity package including a swimming pool, spa, fitness center, basketball/sport court, indoor racquetball court, playground, clubhouse and business center.
Seller Holland Partner Group is a Vancouver, Wash.-based, fully integrated real estate investment company with an asset management and development portfolio of around $7.5 billion. Last year’s combined business volume stood at more than $1 billion. Buyer Jackson Square Properties is a privately held company out of San Francisco that specializes in capitalizing value-add real estate throughout the country. Over the last four years, JSP has acquired more than 13,500 residential units.