HFF announces $84.3 million sale of and acquisition financing for Beaverton, OR apartment community

Arbor Creek, 3280 SW 170th Avenue, Beaverton, OR

PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $84.3 million sale of and acquisition financing for Arbor Creek, a 440-unit, garden-style apartment community in Beaverton, Oregon.

The HFF team marketed the asset exclusively on behalf of the seller, Jackson Square Properties, and procured the buyer, Security Properties. 

Arbor Creek Apartments Pool Area

 Additionally, HFF’s debt placement team worked on behalf of the new owner to secure a seven-year, floating-rate loan through Freddie Mac’s CME Program.  

The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.  HFF originally marketed the property to Jackson Square Properties upon its acquisition of the asset in 2014.

Carrie Kahn

Arbor Creek is situated on 22 acres at 3280 SW 170th Avenue approximately 1.5 miles from Nike World Headquarters and within 10 minutes of the Intel Ronler Acres Campus and other major area employers. 

Ira Virden

Additionally, the property is adjacent to the 222-acre Tualatin Hills Nature Park and offers nearby access to some of the MSA’s top retail centers, major transportation arteries and public transit options. 

Originally completed in 1984, Arbor Creek includes one- and two-bedroom units averaging 768 square feet each, 360 of which have been renovated since 2012. 

Community amenities include a swimming pool, spa, fitness center, basketball/sport court, indoor racquetball court, playground, clubhouse and business center.

The HFF investment advisory team representing the seller included senior managing director Ira Virden and director Carrie Kahn.

HFF’s debt placement team representing the new owner consisted of senior managing director Charles Halladay, directors Scott Gilson and Charlie Watson.

Charles Halladay

Jackson Square Properties is a private real estate investment company located in the San Francisco Bay Area that specializes solely in the purchase and ownership of multifamily apartment communities. 

Founded in 2004, Jackson Square Properties has expanded over the years to own a diverse pool of multifamily assets totaling more than 75 communities with 20,000 units in 10 states.

Security Properties is a national real estate investment, development and operating company headquartered in Seattle, Washington. 

For more than 49 years, Security Properties has provided quality housing to its residents as well as excellent financial performance for its investors. 

Since its founding, Security Properties has acquired or developed over 88,000 residential units at a cost of over $6.4 billion. 

Scott Gilson

 Security Properties maintains a focused multi-family strategy supported by integrated teams of professional acquisition, development, construction, investment and property management specialists. 

 For more information, visit www.securityproperties.com.

Security Properties Residential is the affiliated property management firm of Security Properties, created to increase the value of its real estate holdings by more closely managing its assets.

  Operating throughout the western U.S., Security Properties Residential is committed to delivering exceptional service to its apartment communities and residents. 

Charlie Watson

Services include property, construction and compliance management services that create positive living environments for residents and build value for clients.

CONTACTS:

IRA VIRDEN
OR Lic. #200511080
HFF Senior Managing Director
(503) 224-0444
ivirden@hfflp.com

CHARLES HALLADAY
HFF Senior Managing Director
(415) 276-6300
challaday@hfflp.com

OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500
ohennessey@hfflp.com