By Kate Snyder
Throughout the past year, a number of multifamily properties in the Portland area have traded hands. The region saw a number of those deals involving Trion Properties, a private equity real estate investment firm.
“Trion’s investment philosophy is to target select geographic markets where we can successfully operate throughout the real estate cycle—not just when times are good,” Max Sharkansky, managing partner at Trion Properties, said in a recent release. “We look for sustainable growth supported by a diverse set of strong economic drivers and favorable supply-demand dynamics. The current trends in Denver, the Pacific Northwest, and Southeastern U.S. make them ideal areas for Trion’s growth.”
During 2022, Trion acquired a three-property portfolio totaling 302 units for $94.8 million, or approximately $313,907 per unit in total, in the Portland submarket of Beaverton, according to an announcement from the firm. The acquisitions of the 100-unit Jasper Place ($32.1 million), the 83-unit Jasper Square ($26.6 million) and the 119-unit Willow Grove ($36.1 million) brought the current number of properties Trion owns and manages in the region to 13. The assets are located at 18300 NW Walker Road, 15195 SW Walker Road and 11981 SW Center St., respectively.
“This past year provided excellent opportunities to capitalize on strong value growth in certain properties and geographic segments, and profitably sell assets in our portfolio,” Sharkansky said.
Further, Trion monetized prior investments in the submarkets around Portland. A 64-unit community located at 1833 SE 6th St. in Gresham was sold for $19.4 million, or approximately $303,125 per unit, to RM Communities, according to industry reports. A 76-unit community located at 7535 SW Hall Blvd. in Beaverton sold for $21.5 million, or approximately $282,894 per unit.
Trion also recapitalized four other properties in the Portland area in a transaction valued at $99.2 million, or approximately $265,951 per unit. The assets are located at 18745 SW Farmington Road and 6300 SW 188th Court in Aloha and 10890 SW Canterbury Lane and 10695 SW Murdock St. in Tigard. The four properties, Aster Parc Apartments and Aster Parc Townhomes in Aloha—an unincorporated section of Washington County near Beaverton—and Hudson North and Hudson South in Tigard comprise a portfolio of 373 total units.
Founded in 2005, Trion Properties is a private equity real estate firm headquartered in Los Angeles and Miami, Fla. Trion focuses on multifamily investments in markets throughout the U.S. Since its inception, Trion has completed more than $1.4 billion in transactions with a portfolio of more than $1 billion in assets.
