HAPPY VALLEY, ORE. — Parker, Colo.-based Monterey Springs Holdings LLC has acquired Monterey Springs, a 390-unit multifamily property located at 8640 SE Causey Ave. in Happy Valley. Sherman Oaks, Calif.-based 4414 Wood Apt. I LLC, et al. sold the property for $41 million. The property features one-, two- and three-bedroom units averaging 900 square feet. Additionally, the community features an indoor swimming pool and spa, a clubhouse and a recreation center. Phil Oester of Hendricks & Partners’ Portland, Ore., office represented the seller; Steve Young of the company’s Seattle office represented the buyer in the transaction.