Tuesday, July 3, 2018

Trion Properties Expands Portland, OR Area Portfolio to 10 Assets


Pacific Crest Apartments, Tigard, OR

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 Pacific Crest Apartments, a 156-unit multifamily community in the Portland submarket of Tigard, Oregon, for $28 million.

Max Sharkansky
This is Trion’s tenth acquisition in the greater Portland area in just over three years, bringing the firm’s multifamily portfolio in the region to nearly 700 units, according to Max Sharkansky, Managing Partner of Trion Properties.
“We remain focused on the Portland metropolitan area due to its long-term growth and the establishment of several major employers in the region, which has gained a reputation as the ‘Silicon Forest,’” says Sharkansky.
“Tigard in particular continues to be one of the strongest performing markets in the greater Portland area, with Washington County having the highest median household income in the state.


Mitch Paskover
"The city’s solid economic fundamentals and high quality of life are driving resident demand for housing in this market, resulting in long-term growth potential for multifamily investments.”
Pacific Crest Apartments, which was originally build in 1974, is located at 10695 SW Murdock Street in Tigard, Oregon. It is situated adjacent to Maple Tree Apartments, a multifamily community that Trion Properties acquired earlier this year.
The community was purchased from a private seller. Gail Neuburg and Samuel Lawhead of ARA Newmark represented both parties in this transaction. Continental Partners arranged a $18.368 million loan at a starting rate of 3.89% to finance the acquisition.
Gail Neuburg
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.
The asset is ideally-located to offer those employed by major area firms including Nike, Intel, Kaiser Permanente, and businesses located in the Tigard Industrial District, the ease of convenient work commutes through its close proximity to Pacific Highway West and 217 Highway Corridor, notes Sharkansky.
“Pacific Crest Apartments is an excellent addition to our portfolio of Portland-area assets that are strategically positioned along the 217 Highway,” he continues. 

Sam Lawhead
The apartment community is also located in the Tigard-Tualatin School District, which recently received $291 million in additional funding to further advance classroom textbooks and technology, increase classroom availability, and significantly 

For more information, please contact:
Elisabeth Manville / Lindsay Mackay
Brower Group
(949) 955-7940

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