64-unit Edison Apartments in Gresham, OR
  sold by owner-investor Trion Properties
 after only 18 months on the market

Gresham, OR – Trion Properties, a private equity real estate firm based in West Hollywood, California and Miami, Florida specializing in multifamily investments, has sold Edison Apartments, a 64-unit apartment community at 1833 SE 6th Street in Gresham, the largest suburb of Portland, Oregon, for $19.5 million.  

Max Sharkansky

 Jordan Carter, Tyler Linn, and Clay Newton of Kidder Mathews represented Trion Properties as the seller in this transaction. The buyer's name was not disclosed.

 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. Additional information is available at 

 Trion initially acquired the asset for $12 million in October 2020, according to Sharkansky, Managing Partner at Trion Properties. 

Mitch Paskover

“We purchased this newly built property just as it obtained a certificate of occupancy in 2020, identifying it as an excellent opportunity to add a modern multifamily community to our portfolio at far below replacement cost,” explains Sharkansky.

 “Following several years of building a well-positioned portfolio of multifamily communities in markets with proven resilience throughout economic cycles, we were strongly capitalized and able to act quickly to seize this opportunity.

 "We ultimately leveraged the strength of the property, the location, and the increasing demand for suburban life, to lease up the asset and generate a significant return within just 18 months.”  

 Jordan Carter

 

Sharkansky notes that the success of this investment speaks to Trion’s ability to strategically source acquisitions, build and maintain relationships in our target markets, and remain nimble during unprecedented times like the early months of the pandemic. 

 “This was a departure from our typical strategy in the Portland area of acquiring apartment communities of older vintages and implement light-to-moderate value-add renovations,” explains Sharkansky.

 “With strategic timing and effectively communicating the strengths of the property and market with the team at Kidder Mathews, who were instrumental in making the deal happen and went above and beyond to ensure a successful sale, we were able to sell the asset for well over the initial purchase price.” 

Tyler Linn

 Portland was ranked in the top 10 on U.S. News & World Report’s list of the 150 Best Places to Live in the U.S. in 2021-2022 and has and has consistently ranked as one of the top cities for in-migration over the last several years.

 As there continues to be an influx of new residents to the Portland metro, it is expected vacancy will decline significantly and rents will continue to rise.

 Gresham is projected to be one of the best rent growth areas in the Portland metro area as population growth continues to outpace housing supply, creating a competitive rental market, notes Sharkansky.  

  “The city of Gresham is the manufacturing and distribution hub of Portland, with industrial tenants continuously flocking to the area,” adds Sharkansky.

Clay Newton 

 “With the ongoing boom of industrial asset classes, Gresham is well positioned to continue to benefit from economic expansion tied to the rise of the e-commerce industry.

 "The continued expansion has led to an increased need for quality housing to support the growing population of employees.

 "Despite the increasing population, new construction has been limited as developers have focused on Portland’s core during the economic expansion.

 "The result has been a submarket with some of the tightest vacancy rates and fastest rising rents in the state.”  

 CONTACTS:

Elisabeth Manville / Anthea Davis  

The Smart Agency, Inc. 

(949) 438-6262

andavis@thesmartagency.com 

 

https://trionproperties.com/

 

JLL arranges $600 million sale to NorthWest Healthcare Properties REIT for 27-property 1.2 million SF healthcare portfolio across 10 states

 

Mindy Berman

CHICAGO, IL, April 19, 2022 – JLL’s Healthcare Capital Markets group has closed the $600 million sale of a 27-property, best-in-class, core-quality healthcare real estate portfolio totaling 1.2 million square feet in Arizona, California, Colorado, Illinois, Indiana, Florida, Massachusetts, Minnesota, Oklahoma and Texas markets.

 Ben Mohns

JLL marketed the portfolio on behalf of the seller, Harrison Street. NorthWest Healthcare Properties acquired the assets.

 “Harrison Street is proud to have partnered once again with JLL’s Healthcare Capital Markets team to execute the sale of this complex portfolio spanning multiple medical sub-sectors and U.S. states,” said Ben Mohns, Senior Managing Director and Head of North American Asset Management at Harrison Street.

 “The successful sale of these diversified healthcare assets reinforces the strength of Harrison Street’s ongoing partnership with JLL, and the portfolio execution ability of our talented team who have worked diligently to execute on behalf of our investors.”

Evan Kovac

The portfolio has a mix of 15 medical office buildings, five micro-hospitals, four behavioral hospitals, two inpatient rehabilitation hospitals, and one heart and surgical hospital.

 The portfolio includes nine properties in Arizona; five properties in Texas and Illinois; two properties in Florida and one property each in Minnesota, Massachusetts, California, Oklahoma, Colorado and Indiana.

 The portfolio is 97% occupied by key healthcare providers, including Advocate Aurora Health, Rush University Medical Center, Memorial Hermann, Ascension, Banner Health, Tenet Health, Lutheran Health Network, Baylor Scott & White Health and Edward-Elmhurst Healthcare.

 Andrew Milne

The JLL Healthcare Capital Markets team representing the seller was led by Senior Managing Directors Mindy Berman, Evan Kovac, Andrew Milne and Brian Bacharach and Managing Directors Tim Joyce and Brannan Knott, with support from Vice Presidents Trent Jemmett and CJ Kodani.

 Local support was provided by JLL licensed brokers in each location.

 “The offering was well received due to its scale and the mix of medical office and acute care facilities,” Berman said. “Healthcare assets have seen increased investor interest, as the sector offers long-term leases with quality tenants that provide steady income to landlords.”

Brian Bacharach 

The JLL Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 For more news, videos and research resources on JLL, please visit our newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

Tim Joyce

About Harrison Street

Harrison Street is one of the leading investment management firms exclusively focused on alternative real assets.

 Since inception in 2005, the firm has created a series of differentiated investment solutions focused on demographic-driven, needs-based assets.

 The firm has invested across senior housing, student housing, healthcare delivery, life sciences and storage real estate as well as social and utility infrastructure.

 Headquartered in Chicago with offices in London, Toronto, San Francisco and Washington D.C., the firm has more than 200-employees and approximately $44 billion in assets under management.

Brannan Knott

Clients of the firm include a global institutional investor base domiciled in North America, Europe, Middle East, Asia and Latin America.

Harrison Street was awarded Best Places to Work by Pensions & Investments for seven consecutive years (2014-2020) and was recognized by PERE as the 2021 Alternatives Investor of the Year, North America and 2020 Global Alternatives Investor of the Year.

 For more information, please visit www.harrisonst.com.

About NorthWest Healthcare Properties (“NorthWest”)

NorthWest is a global real estate investor and asset manager focused on properties and partnerships at the intersection of healthcare, knowledge and research.

Trent Jemmett

Founded in 2004 and publicly traded since 2010, NorthWest (TSX: NWH.UN) is a real estate investment trust that owns and operates a $10 billion portfolio of 224 high quality healthcare properties across Canada, the United States, Brazil, the UK, Germany, the Netherlands, Australia and New Zealand.

With more than 300 professionals globally, operating in 7 countries, NorthWest brings a global view, local execution capabilities and a long-term ownership strategy which allows it to serve as a real estate partner of choice to leading healthcare operators around the world.

CJ Kodani

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.

JLL is a Fortune 500 company with annual revenue of $19.4 billion in 2021, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021.

 JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

For further information, please visit jll.com.

  CONTACT:

Cierra Lacasse

PR, Capital Markets

JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com

 

Comunidad Partners Buys 437-unit Villas del Zocalo 4 in Dallas, TX

 

Antonio Marquez

 

 Dallas, TX — Comunidad Partners, a minority and women-owned real estate investment firm that specializes in workforce / affordable housing communities in culturally diverse neighborhoods, has recently acquired Villas del Zocalo 4, a 437-unit affordable housing community at 3232 Sumter Drive in Dallas, Texas.

 Taylor Snoddy with Northmarq was the listing broker in the transaction.

 “The Dallas-Fort Worth market is closely aligned with our investment strategy, having undergone tremendous growth over the last several years,” says Antonio Marquez, Managing Partner at Comunidad Partners.

 “In fact, over the last four years, Dallas-Fort Worth has added more than 100,000 rentals, exceeding New York City—the second-highest-ranking market during that time period—by 24,000 units,” says Marquez.

Taylor Snoddy

 This acquisition is Comunidad’s eleventh asset in the Dallas-Fort Worth market.

 “Our core mission is to bring institutional capital to underserved multiethnic communities through our proven ESG and social impact focus,” explains Marquez.

  “Villas del Zocalo 4, which was previously named Spanish Village, will be a strong addition to our portfolio.

 "It will allow us to continue to preserve affordability in a market poised for robust economic growth while being positioned to deliver favorable risk-adjusted returns to investors.”

Taylor Snoddy with Northmarq was the listing broker in the transaction.

 

 CONTACT:

 

Katie Haga / Lexi Astfalk

The Smart Agency, Inc.

(949) 438-6262

khaga@thesmartagency.com

Gregg Forde Promoted to President and COO of Island Hospitality Management

 

Gregg Forde 

WEST PALM BEACH, FL, April 19, 2022—Officials of Island Hospitality Management, the premier third-party management company for select-service and upscale, extended-stay hotels in the United States, announced today that the company has promoted Gregg Forde to president. 

 In his new role, he will oversee the company’s day-to-day operations and overall strategic vision. 

 “Gregg has spent nearly two decades with Island, helping to grow and shape the company into the leading third-party management we are today,” said Jeffrey H. Fisher, founder and principal, Island Hospitality Management. 

 

 Jeffrey H. Fisher

“From area director to chief operating officer, Gregg has been with us virtually every step of the way. 

 "Under his tutelage, Island has elevated its overall performance in all respects, from our human capital and training to the growth of our propriety information systems and programs. 

 "His focus on ownership and their priorities has helped drive the industry leading results we achieve.  Gregg is directly responsible for so much of our growth to-date and in his new role will lead us to reach even greater heights.”

 Forde began his hospitality career on the front desk and in housekeeping with Marriott International with ascending roles over the following years.  He joined Island Hospitality in 2003 as an area director of the company’s Silicon Valley hotels. 

 

 CONTACT:

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

www.islandhospitality.com.