Trion Properties has sold Fox Meadows, a 95-unit multifamily community located in the Portland submarket of Tualatin, Ore., for $19.35 million.
The property was sold to FPA Multifamily.
“Our firm tapped into its deep expertise and business savvy in the Portland market and was able to achieve a very high rate of return on this asset,” said Max Sharkansky, managing partner of Trion Properties. “We identified an opportunity to purchase the property in the brief multifamily downturn during the pandemic, when it was underwritten fairly conservatively, and capitalized on the right moment to sell when the market is recovering and there are few assets of this type on the sale block.”
Trion has owned and managed 22 properties in the Greater Portland area since 2015 and now owns 13 assets in this region. With job growth in the metro at 5.3 percent during first quarter 2022, outpacing the national figure of 3.8 percent, the market seems to be on an upward trajec
