DB Capital Management has paid $34.1 million for Terra Murrayhill, a 137-unit, garden-style apartment community in Beaverton, Ore.
JLL marketed the property on behalf of the seller, a West Coast–based investor.
Terra Murrayhill is located near major tech employers within what is known locally as the “Silicon Forest.” The property, which sits on approximately nine acres at 14305 SW Sexton Mountain Drive, is also close to the Beaverton Transit Center, providing residents with connectivity to downtown Portland, Hillsboro and the Portland International Airport. The community comprises 15 residential buildings that house a mix of one-, two- and three-bedroom units averaging 891 square feet. Originally constructed in 1985, Terra Murrayhill has recently undergone $3 million in renovations and capital improvements. In addition to the newly upgraded clubhouse, common area amenities include an outdoor pool, hot tub, grilling area, fitness center, business center, dog park, detached garages and direct hiking trail access.
