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PORTLAND, ORE. – CBRE Global Investors has acquired the 348-unit Arbor Heights apartment community in Portland for $54.1 million. The community is located at 15199 SW Royalty Parkway.
Arbor Heights was 95 percent occupied at the time of sale. It was built in 1997 in the Portland submarket of Tigard, just 10 miles from the city’s downtown.
The seller, Capri Capital Partners LLC, was represented by ARA’s Gail Neuburg. Capri Capital owned the asset on behalf of one of its institutional clients.