Saturday, November 14, 2015

HFF closes $32.65 million sale of Avalon Apartments in Gresham, OR

Avalon Apartments, 20300 SE Morrison Terrace, Gresham, OR

IRA Virden
PORTLAND, OR – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Avalon Apartments, a 225-unit, garden-style multi-housing community in Gresham, Oregon, an eastern suburb of Portland.

HFF marketed the property on behalf of the seller, American Capital Group.  Jackson Square Properties purchased the asset for $32.65 million free and clear of debt.   

Avalon Apartments is situated on 10.17 acres at 20300 SE Morrison Terrace within walking distance of the Ruby Junction/E 197th Avenue MAX station providing access to downtown Portland. 

The property also has easy access to vehicular arterials including NW Burnside Road and SE Stark Street, two of Portland’s primary east-west thoroughfares, as well as Interstate 84 that connects travelers to the Portland International Airport and downtown Portland. 

Completed in 2003, Avalon Apartments has 14 residential buildings housing one- and two-bedroom units averaging 913 square feet each.  Community amenities include a swimming pool and spa, billiard room, clubroom, fitness center, tot lot, sport court, assigned covered parking with each home, and a select number of detached garages.

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

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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