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Invesco Real Estate and Holland Partner Group acquired the 566-unit LaSalle Apartments in Beaverton for over $140M. The partners bought the property from Chicago's Waterton Associates, which paid $77.2M for the property in 2012. The Portland Business Journal reports the deal is the largest apartment trade in dollar terms so far this year.
The community at 15021 SW Milikan Way is garden-style with a mix of floor plans. Josh McDonald, Eli Hanacek and Jon Hallgrimson of CBRE Capital Markets Pacific Northwest Institutional Properties repped both the seller and the buyer.
"Beaverton’s strong market fundamentals, low vacancy rates and continued rent growth generated a high volume of institutional investor interest,” Josh says. [PBJ]
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