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| Hidden Villas, 14620 SW Farmington Road, Beaverton, OR |
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| Max Sharkansky |
BEAVERTON, OR – Trion
Properties, a private equity commercial real estate firm that specializes in
value-add multifamily investments along the west coast, has acquired Hidden Villas, a 61-unit, value-add
apartment community in the Portland submarket of Beaverton, Oregon, bringing
its multifamily portfolio in the area to a total of 215 units.
The principals of Trion Properties are Max Sharkansky and Mitch Paskover, two real estate professionals with over 30 years of combined experience in finance, acquisitions, management and redevelopment.
“Beaverton is on the cusp
of tremendous economic growth, making it an attractive market for multifamily
investors,” says Sharkansky,
Managing Partner of Trion Properties.
“The region’s rapid job growth, mass
transit options, and high quality of life are driving resident demand for
well-located multifamily communities near major employers in the area.”
Sharkansky explains that
the Portland metro, also known as the “Silicon Forest,” is one of the most
dynamic tech employment markets in the Pacific Northwest, and is home to a
cluster of high-tech companies, including Intel, the largest for-profit
employer in the state with over 17,000 employees.
In addition, the Portland
metro has also established itself as the sports apparel capital of the nation,
with brands such as Nike and Columbia Sportswear taking up residence here.
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| Mitch Paskover |
“Nike is currently undergoing a 3.2 million
square-foot, $380 million expansion of its headquarters which is set for
completion in 2018, adding thousands of new jobs in the next few years,”
continues Sharkansky.
“This influx in new jobs,
coupled with the property’s central location will further drive resident
demand, resulting in stabilized cash flow and strong operating income for the
asset over time.
"Nike is located 1.8 miles from the apartment community, and
Tektronix, an electronic equipment manufacturing firm, is located just 1.3
miles from the property as well.”
At nearly full occupancy,
Hidden Villas has strong in-place cash flow with tremendous upside potential,
according to Sharkansky, who adds that the property presents an opportunity to
capture rent growth upon lease rollover.
“By repositioning and
rebranding this asset through strategic renovations, we plan to bring rents up
to market-value in order to optimize the property’s value-add potential,
thereby increasing our internal rate of return,” Sharkanksy confirms.
For a complete copy of the company’s news release,
please contact:
Katie Kea / Lexi Astfalk
Brower, Miller & Cole
(949) 955-7940
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