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One Jefferson, a 347-unit apartment complex in Lake Oswego, has sold to an undisclosed buyer for $124 million. At press time, documentation for the transaction was not yet filed with Clackamas County, so the buyer鈥檚 identity is not yet publicly accessible.

CBRE represented the seller, a joint venture associated with Security Properties.

Built in 1986, One Jefferson is located at 1 Jefferson Parkway. The property is in the heart of the Mountain Park master-planned community near Interstate 5, Oregon Route 217, and Oregon Route 99W.

The low-density, garden-style community is comprised of 58 three-story buildings on 20.5 acres. Apartments average 1,049 square feet. Floor plans range from studios to five-bedroom, five-bathroom layouts.

The property鈥檚 previous ownership in 2019 completed significant renovations in which approximately 86 percent of the units gained stainless steel appliances, granite countertops, tile backsplashes, vinyl-plank flooring in wet areas, and modern fixtures. The community also features resort-style common amenities including a year-round pool, a spa, a dog park, a fitness center, picnic areas, an outdoor lounge with a sundeck, and 644 parking spaces.