Shelter Holdings Sells Meadows at Heron Creek Apartments Near Portland for $48.2M

HILLSBORO, ORE. — Shelter Holdings has completed the sale of Meadows at Heron Creek, a garden-style multifamily community in Hillsboro. RISE Properties Trust, a Canadian real estate investment trust with offices in Vancouver and Seattle, acquired the asset for $48.2 million, or $270,786 per unit.

Built in 2012, Meadows at Heron Creek features 178 apartments, ample parking and greenbelt and transit accessibility.

Anthony Palladino, Giovanni Napoli and Philip Assouad of Institutional Property Advisors, a division of Marcus & Millichap, facilitated the transaction between the seller and buyer.