Trion Properties Purchases 156-Unit Apartment Complex Near Portland for $28M

TIGARD, ORE. — Trion Properties has acquired Pacific Crest Apartments, a multifamily community located at 10695 SW Murdock St. in Tigard. A private seller sold the property for $28 million.

Gail Neuburg and Samuel Lawhead of ARA Newmark represented both parties in the transaction. Continental Partners arranged a $18.4 million acquisition loan for the buyer.

Built in 1974, the property features 156 apartments in a mix of studio, one-, two- and three-bedroom floorplans with in-unit washers/dryers. The buyer plans to renovate the units, including the installation of quartz countertops, stainless steel appliances, new cabinets, vinyl floor and Kevo door locks.