Trion Properties and joint venture partner AMC Investments have acquired Hood Apartments, a new 64-unit multifamily community in the greater Portland city of Gresham, Ore., for $12 million.
This acquisition brings Trion’s holdings in the region to eight properties totaling 675 units. Hood Apartments is the firm’s first purchase in the city of Gresham, the fourth-largest city in the state, according to Max Sharkansky, managing partner at Trion Properties.
“As an experienced owner and operator in the Portland area, we recognized Gresham as a city with massive potential due to the affordable cost of living, family-friendly lifestyle, walkability and proximity to a thriving business scene,” said Sharkansky. “Much of Gresham’s existing housing was built prior to the year 2000. Hood Apartments, completed earlier this year, is a stand-out in the area that meets a high demand for newly developed and upgraded multifamily properties driven by a healthy local economy
