Trion Properties Continues to Grow Portland Metro Portfolio; Acquires Three Multifamily Communities Totaling 174 Units for $24.2 Million

Maple Tree Apartments, Tigard, OR

BEAVERTON, OR and TIGARD, OR – Trion Properties, a private equity real estate firm that specializes in value-add multifamily investments in four niche markets along the west coast, has acquired three multifamily assets totaling 174 units in Portland, Oregon submarkets.

Mitch Paskover

The properties include a portfolio of two multifamily communities, Menlo Square Apartments and Center Square Apartments, totaling 103 units in Beaverton, Oregon, as well as Maple Tree Apartments, a 71-unit multifamily community in neighboring Tigard, Oregon.

The acquisition of these communities brings Trion’s holdings in the greater Portland area to nine properties totaling more than 530 units, as the firm continues to focus on the region due to its standout economic growth, according to Mitch Paskover, Managing Partner of Trion Properties.
“Demand is outpacing supply for multifamily throughout the Portland Metro area, due to strong economic drivers,” explains Paskover. “The cities of Beaverton and Tigard in particular continue to experience growth and increasing demand for multifamily, as more employers are relocating and expanding in the area.”

Tyler Johnson

The acquisitions include: 

Trion Properties Acquires Two Beaverton Communities with Value-Add Opportunities

Trion Properties has acquired a portfolio of two multifamily properties totaling 103 units, Center Square Apartments and Menlo Square Apartments, both located in the Portland submarket of Beaverton, Oregon.

“Continuing job growth and solid economic fundamentals are resulting in long-term growth potential for well-located multifamily investments in Beaverton,” says Paskover. 

Cody Hagerman

“Both properties are within three miles of the Nike World Headquarters, which is currently undergoing an expansion that is estimated to have a total project cost of approximately $1 billion, and is expected to be completed this year. In addition to their close proximity to Nike and other major employers in the city, these properties also offer residents convenient commutes to Downtown Portland to the East and Hillsboro to the West.”
Cody Hagerman and Tyler Johnson of HFO represented both the buyer and seller of both Menlo Square Apartments and Center Square Apartments in this portfolio transaction.
The property is located at 5930 SW Menlo Drive in Beaverton, Oregon and was constructed in 1977. It was acquired from a private seller for $5.7 million. Continental Partners arranged a $4.8 million fixed-rate loan to finance the acquisition.

For more information, please contact:

Lindsay Mackay / Elisabeth Manville

Brower Group

(949) 955-7940

lmackay@brower-group.com