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A San Diego-based real estate investor has purchased a 566-unit multifamily property in Beaverton for $186 million.

The off-market transaction netted MG Properties Group the Pallas Townhomes and Apartments. The seller was a joint venture partnership of Holland Partner Group and Invesco Real Estate.

Built in 1997, Pallas Townhomes & Apartments is located at 15021 S.W. Millikan Way in Beaverton. The property is near the Millikan Way MAX light-rail stop, and about a mile from Nike World Headquarters.

MG Properties Group plans to renovate the units’ interiors, the company stated in a news release.

Neither the buyer nor the seller was represented by a broker. Financing was provided by Fannie Mae and arranged by Brian Eisendrath and Cameron Chalfant of CBRE.

MG Properties Group also recently purchased Tivalli Apartments, a 383-unit apartment property located in Lynnwood, Washington, for $119.2 million.

鈥淭hese acquisitions reflect our continued belief in the economic potential of the Pacific Northwest and allow MG Properties Group to further create economies of scale to enhance the performance of our existing regional portfolio,鈥� company CEO Mark Gleiberman stated.