Marcus & Millichap secures buyer for Oregon apartments
Property includes 1-, 2-bedroom units in Tigard
By Inman News, Wednesday, May 19, 2004.Inman News®
Marcus & Millichap brokered the sale of the 238-unit Sunflower Apartments in Tigard, Ore.
The value of the transaction was $11.2 million.
Sunflower Apartments is located at 11547 SW 135th Ave., southwest of downtown Portland in Washington County. The sale includes 176,112 rentable square feet on approximately 10 acres. The property was constructed in 1988. The unit mix includes 36 one-bedroom and 202 two-bedroom apartments, ranging in size from 650 to 756 square feet.
A San Marino, Calif.-based private investor acquired the property from an undisclosed, Southern California-based real estate company.
Occupancy was at 91 percent at the time of sale.
Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.
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