A 155-unit apartment community near Beaverton has sold for $29.85 million.

The buyer of Cedar Square Apartments was a joint venture of Glencrest Group and Sky Alps Capital; both are San Francisco-based investment firms.

The purchase values the asset in unincorporated Washington County at $192,581 per unit.

Cedar Square was built in 1980, with additions completed in 2016 and 2024. The garden-style apartment complex has large floor plans averaging 853 square feet, and each unit has a patio or balcony. Units come in one-, two- or three-bedroom configurations.

Additional amenities include a fitness center, playground, on-site laundry, parking and green space. The seller completed capital improvements, including replacements of siding, windows, decks and roofs. Also, areas were repaved.

JLL represented both the buyer and seller, the Baricevic Irrevocable Trust, a local entity.

“The overwhelming demand for housing and limited supply in the submarket reinforces the value of this asset,” JLL Capital Markets Senior Managing Director Ira Virden stated. “Cedar Square offers a compelling value-add opportunity in a premier suburban location characterized by strong employment growth, excellent schools and superior transit connectivity.”

JLL Capital Markets’ Investment Sales and Advisory team was led by Virden, Managing Director Carrie Kahn and associate Owen Wise. JLL’s Debt Advisory team was spearheaded by Charles Halladay and Jonah Aelyon.

Cedar Square is located at 10480 S.W. Eastridge St., less than a mile from the Cedar Hills shopping center and at the intersection of Oregon Route 217 and U.S. Route 26. The property also is close to the Sunset Transit Center.

“Glencrest Group was attracted to Cedar Square because of its quality construction and outstanding location,” stated Mike Bergelson, the firm’s managing partner.

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