Tuesday, September 8, 2015

HFF closes $59.5 million sale of Class A multi-housing property in Wilsonville, OR

Terrene at the Grove Apartments, 8890 SW Ash Meadows Circle, Wilsonville, OR

Ira Virden
PORTLAND, OR, Sept. 8, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $59.5 million sale of Terrene at the Grove, a 288-unit, Class A garden-style apartment community in Wilsonville, Oregon.

HFF marketed the property on behalf of the seller, Holland Partner Group and its finance partner. 

Jackson Square Properties purchased the asset free and clear of existing debt.  The buyer also recently acquired The Addison, a 147-unit apartment community in Vancouver, Washington, through a sale brokered by HFF. 

Completed in 2013, Terrene at the Grove has 13 residential buildings encompassing 288 expansive units averaging 1,012 square feet each.  Community amenities include a saltwater swimming pool, fitness center and resort-style clubhouse. 

Ideally situated at 8890 SW Ash Meadows Circle just off Interstate 5 in the rapidly growing Portland suburb of Wilsonville, Oregon, Terrene at the Grove is Wilsonville’s newest apartment community and one of only three properties built in the city since 2007.

The HFF investment sales team representing the seller was led by managing director Ira Virden and associate director Kerry Hughes

  For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

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