Greystar has sold a 12-building multifamily property in Hillsboro.

The buyer of Avana Orenco Station – a 264-unit development – was Jackson Square Properties, a San Francisco-based real estate investment firm.

The terms of the deal were not available from Washington County, and were not disclosed by the buyer or seller. The 9.8-acre property previously sold for $51 million in 2014. The county assessed the property’s market value last year at $61.9 million.

Avana Orenco Station is also known as the Grove at Orenco Station.

Jackson Square Properties acquired the property free and clear of existing financing, according to Jones Lang LaSalle, which marketed the property for Greystar.

The buildings have a mix of 156 one-bedroom, 100 two-bedroom and eight three-bedroom floor plans averaging 925 square feet. The property is within walking distance of TriMet’s MAX Blue light-rail line and near Intel’s Hillsboro campus.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Ira Virden and Senior Director Carrie Kahn.

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