Trion Properties Sells Portland-Area Community

The seller picked up the asset in 2020 for $14 million.

Fox Meadows Apartments. Image courtesy of Kidder Mathews

Trion Properties has sold Fox Meadows Apartments, a 95-unit multifamily community in Tualatin, Ore. A California-based national investor, identified by Yardi Matrix as FPA Multifamily, acquired the property for $19.4 million.

Jordan Carter, Clay Newton and Tyler Linn from Kidder Mathews represented the seller in the transaction.

Trion acquired the asset in 2020 for $14 million, with the help of a $10 million loan originated by CIT Bank, according to the same data provider.

Completed in 1978, the garden-style property encompasses 20 buildings with one- and two-bedroom floorplans, ranging between 650 and 930 square feet. Common-area amenities include a swimming pool, a playground, laundry facilities and more than 200 parking spaces.

Located at 19545 & 19605 SW Boones Ferry Road, Fox Meadows Apartments sits on a 4.3-acre site near the conjunction of interstates 5 and 205. Downtown Portland is roughly 13 miles northeast of the property, with a variety of retail centers, dining options and entertainment venues in its proximity. Legacy Meridian Park Medical Center is 1.8 miles from the community.

Recently, Kidder Mathews arranged another transaction in the Portland area. Dean Kirkland Development sold a 124-unit multifamily property in Vancouver, Wash. Kidder brokered the $38.8 million deal, representing the seller and procuring the buyer.

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