REBusinessOnline

Security Properties Acquires 440-Unit Apartment Community in Oregon for $84.3M

Arbor-Creek-Beaverton-OR

Located in Beaverton, Ore., Arbor Creek features 440 units, a swimming pool, spa, fitness center and a playground.

BEAVERTON, ORE. — Security Properties has purchased Arbor Creek, a garden-style apartment community located at 3280 SW 170th Ave. in the Portland suburb of Beaverton. Jackson Square Properties sold the property for $84.3 million.

Charles Halladay, Scott Gilson and Charlie Watson of HFF arranged a seven-year, floating-rate loan through Freddie Mac’s CME Program for the buyer.

Situated on 22 acres and originally completed in 1984, Arbor Creek features one- and two-bedroom units, averaging 768 square feet, 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.

Ira Virden and Carrie Kahn of HFF represented the seller in the transaction.

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