CBRE Arranges $11M Metro Portland Sale
- Mar 06, 2018
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
If you’d like to be featured in Brokers’ Corner, send your deal to firstname.lastname@example.org.