Security Properties JV sells multifamily community in Oregon for $124m

CBRE arranged the sale of One Jefferson, a 347-unit multifamily community in Lake Oswego, Ore., to an undisclosed buyer for $124 million.

CBRE also represented the seller, a joint venture associated with Security Properties.

Built in 1986, One Jefferson is located in Portland’s Southwest submarket at 1 Jefferson Parkway. The low-density, garden-style community comprises 58 three-story buildings on 20.5 acres. Units average 1,049 square feet, with floorplans ranging from studio to five-bedroom, five-bath layouts. Previous ownership completed significant renovations in 2019, modernizing approximately 86 percent of the units with stainless steel appliances, granite countertops, tile backsplash, vinyl-plank flooring in wet areas and updated fixtures. The community also features resort-style common amenities, including a year-round pool, spa, dog park, fitness center, picnic areas, outdoor lounge and sundeck, and 644 parking spaces.

“As an affluent community and