Trion Properties Purchases Three Multifamily Communities in Oregon for $94.8M
BEAVERTON, ORE. — Los Angeles-based Trion Properties has acquired a 302-unit multifamily portfolio in Beaverton for $94.8 million. The portfolio consists of Jasper Place, Jasper Square and Willow Grove.
Trion acquired Jasper Place and Jasper Square in association with anchor investor Promus Realty Properties. Trion plans to execute strategic upgrades and utilize its vertically integrated property management platforms to improve operations and address deferred maintenance.
Constructed in 1986, Jasper Place features 100 apartments in a mix of one-, two- and three-bedroom layouts spread across 19 two-story residential buildings. The community features a pool, fitness center, sports courts and leasing office. Additionally, 58 percent of the units have been upgraded and each unit has an individual garage. The community is located at 18300 NW Walker Road.
Located at 15194 SW Walker Road, Jasper Square offers 83 apartments in a mix of one-, two- and three-bedroom floor plans across 15 residential buildings. Existing amenities include a pool, fitness center and leasing office. Additionally, 55 percent of all unit interiors have been upgraded and each unit features a garage. Jasper Square was constructed in 1986.
Built in 1988, Willow Grove features 119 apartments in a mix of one-, two- and three-bedroom layouts at 11981 SW Center St. With 15 residential building, the community offers a pool, fitness center and leasing office. Additionally, 50 percent of all unit interiors have been upgraded.