Trion Properties Acquires Multifamily Community in Aloha, OR

Springbrook Gardens Apartments, Aloha, OR

ALOHA, 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 Springbrook Gardens, an 84-unit multifamily property in the Portland submarket of Aloha, Oregon.

This is Trion’s fifth acquisition in the greater Portland area this year and 11th in just over three years, making the firm the most active buyer in the market based on number of transactions, according to Max Sharkansky, Managing Partner of Trion Properties.

Max Sharkansky

“The acquisition of Springbrook Gardens is perfectly in line with our strategy to acquire well-located communities in Portland submarkets demonstrating strong growth fundamentals,” says Sharkansky.

“We have been particularly bullish on Washington County, which boasts the highest median income in the state of Oregon and has seen an ongoing influx and expansion of several major employers.”

The asset’s location off of major thoroughfare Farmington Road and in close proximity to 217 Highway Corridor, also known as the ‘Silicon Forest,’ offers residents convenient commutes to several local employers as well as Downtown Portland, notes Sharkansky.

The property is centrally located between Hillsboro and Beaverton, two of the main job centers in the state of Oregon, and is just two miles from Intel’s Aloha Campus, which currently employs over 20,000 people.

Mitch Paskover

Liz Tilbury and Ben Murphy of Tilbury Ferguson Investment Real Estate, Inc. represented both the buyer and the seller in this transaction. Continental Partners arranged a $5.4 million loan at a starting rate of 3.72% to finance the acquisition.

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.

          Founded in 2005 and headquartered in Los Angeles, Trion Properties is a private equity real estate firm that invests in value-add multifamily throughout the west coast.

Trion has completed more than $300 million in transactions, with a portfolio of over $315 million in assets, generating an average internal rate of return in excess of 30 percent. With its fully built-out operator platform,

For more information, please contact:

Lindsay Mackay / Elisabeth Manville

Brower Group

(949) 955-7940

lmackay@brower-group.com

http://www.trion-properties.com/

ATTOM Data Solutions Finds U.S. Median Home Price Appreciation Decelerates in Q2 2018 to Slowest Pace in Two Years

Daren Blomquist

IRVINE, CA — ATTOM Data Solutions, curator of the nation’s premier property database, released its Q2 2018 U.S. Home Sales Report, which shows that U.S. single family homes and condos sold for a median price of $255,000 in the second quarter, up 6.3 percent from a year ago to a new all-time high but the slowest annual appreciation since Q2 2016.

“Annual home price appreciation nationwide has now slowed for five consecutive quarters following a post-election spike to double-digit appreciation in the first quarter of 2017,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. 

“Although home sellers are still in the driver’s seat of this housing market, moderating home price appreciation is good news for prospective homebuyers and signals that rising mortgage rates and other housing headwinds are cooling red-hot home price appreciation in some areas.”

Annual home price appreciation in Q2 2018 decelerated from the previous quarter in 80 of the 122 metros (66 percent) analyzed for median home prices, including Los Angeles, Chicago, Dallas-Fort Worth, Houston and Philadelphia.

Matthew Gardner

“Home prices in the greater Seattle region continue to grow at well above long-term averages for several reasons,” said Matthew Gardner, chief economist with Windermere Real Estate, covering the Seattle market.

 “Firstly, the area’s booming economy continues to add jobs, driving up demand for housing. Compounding this demand is a lack of new construction housing, which puts substantial upward pressure on home prices in the resale market. 

"Housing affordability is unquestionably a major issue in Seattle; however, ironically enough, the many California buyers relocating to the Seattle area actually think our home prices are a bargain!”

For more information, please contact:

Christine Stricker

Sr. Marketing Manager, Projects

Mobile: 714.873.4275

Email: christine.stricker@attomdata.com

The Preiss Company/TH Real Estate Joint Venture Acquires 450-Bed Student Housing Complex, The Forum at Sam Houston in Huntsville, TX

Donna Preiss

HUNTSVILLE, TX and RALEIGH, N.C. — Officials of The Preiss Company (TPCO), one of the nation’s largest, privately-held, student housing owner-operators, in a joint venture with TH Real Estate, an affiliate of Nuveen, the investment management arm of TIAA, one of the world’s largest real estate investment managers, announced the acquisition of the 450-bed student housing complex The Forum at Sam Houston.  

Located at 3019 Sam Houston Ave., in Huntsville, Texas, the garden-style community on nearly 12 acres is less than a mile from Sam Houston State University. 

Rendering of The Forum
at Sam Houston, Huntsville, TX

The property will begin a substantial renovation this fall, including upgrades to the clubhouse, as well as exterior and interior painting.  Units will receive new furniture, flooring and kitchen backsplashes.  TPCO will manage the property and oversee the renovation.

“This is our second joint venture acquisition with TH Real Estate in the past two months, and we seek other opportunities to build on our relationship with them,” said Donna Preiss, founder and CEO, TPCO.  “We believe the renovation, new management and energy we bring to The Forum at Sam Houston will allow us to increase occupancy for the 2018/2019 school year by as much as 10 percent above current levels with a target in the mid- to high-90 percent leasing range.”

Built in 2011, the property features some of the markets’ largest units in studio, one-, two- and three-bedroom floor plans.  All units include private bedrooms and bathrooms, as well as walk-in closets.  The gated community features a resort-style swimming pool, basketball court, sand volleyball court and 24-hour clubhouse, cyber cafe and fitness center.  An outdoor lounge with fireplace and two pet parks round out amenities.

The property is within easy biking distance to all university classrooms and athletic facilities, as well as a large offering of nearby retail and restaurant outlets.  In addition, the property provides private bus service to and from campus.

Rendering of The Forum at Sam Houston
Student Housing, Huntsvile, TX

      “We are well versed in this market, having acquired a property in Huntsville with another joint venture partner last year, which is performing quite well,” Preiss said.  “Sam Houston State University’s enrollment has enjoyed an average of 2.7 percent annual expansion since 2007, and today boasts more than 20,000 students, with strong growth expected to continue.  The supply/demand dynamics for this market are quite positive.

            “Based on our current acquisition pipeline, we expect the second half to be much more active than the first half,” she noted.  “We remain quite positive on the outlook for the industry, especially in our acquisition profiles of newer, well performing properties; upgrade opportunities, like the Forum at Sam Houston, and deep turnaround/repositioning situations for properties 10 years and older.”

operator. 
                                                      

For more information, please contact:

PATRICK DALY

OFFICE MANAGER

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-300-8289

patrick@dalygray.com | www.dalygray.com

or

Amy Barger, Vice President of Public Relations

The Preiss Company

(919) 532-1114

amy.barger@tpco.com

www.tpco.com

Rhodes+Brito Architects Hires Three New Members in Orlando, FL

Liliana Nino

ORLANDO, FL – Rhodes+Brito Architects based in downtown Orlando has appointed Kevin Chea as Project Coordinator III and Liliana Nino and Levy Castaneda as Managers.

Nino holds a Master of Architecture from the University of South Florida in Tampa.  She has more than 15 years of experience in technical and project management in charge of multiple retail, restaurant and mixed-use projects at various stages.

Levy Castaneda

Chea holds a Master of Architecture from Northeastern University in Boston.  During his career of 10+ years Chea worked on design and management of residential and multifamily projects, sports clubs, resorts and microbreweries.  He also developed and evolved all elements of the brand for a start-up spa company.  

Kevin Chea

Castaneda graduated from Los Andes University School of Architecture in Bogota, Columbia.  He has 20 years of experience in project development and construction administration with prestigious South Florida firms involved in highrise residential projects, schools, universities, courthouses and other public institutions.

“We are pleased to have these three talented professionals join our staff.   They share our values and will help us realize our vision to serve our clients’ best interests while creating a positive impact on our community,” said Ruffin Rhodes, principal.

For more information, please contact:

Beth Payan, Larry Vershel Communications

 407-644-4142 Lvershelco@aol.com