Beaverton 440-unit apartment complex purchased for $35.5M

By: Lee Fehrenbacher//April 20, 2012//

Beaverton 440-unit apartment complex purchased for $35.5M

Lee Fehrenbacher//April 20, 2012//

Listen to this article

has acquired a 440-unit, garden-style apartment complex in Beaverton for $35.5 million.

Located on Southwest 170^th Avenue in the Sunset Corridor, the Arbor Creek Apartments were built in 1984 and sit on 21.97 acres, according to , which assisted Holland in acquiring the financing for the purchase. Nick Santangelo, CBRE’s vice president, said the seller was Kennedy Wilson.

CBRE helped Holland obtain $26.6 million in financing. Holland assumed the in-place debt on the property of approximately $21.26 million and added another $5.36 million through Fannie Mae’s supplemental loan program. CBRE reported that the property has exhibited strong operational performance and that CBRE was able to close the loan for the purchase less than two weeks after receiving the executed application. The property was 95 percent occupied at the time of closing.

91视频

Select Region or Brand

91视频