Two Portland Apartment Complexes Shed for $54M

(Mark Your Calendars: RealShare Apartments 2011, October 20 in Los Angeles).

PORTLAND, OR-Trecap Partners LLC has acquired a majority interest in two Beaverton, Oregon apartment complexes for a pre-specified facility on behalf of a “to be formed” institutional investment fund. Trecap, in a joint venture with Holland Partners, purchased the properties, Country Gables and Club at the Green, for $53.9 million from Equity Residential. Both Country Gables and Club at the Green include a full amenity package including indoor and outdoor pools, fitness centers and playgrounds. Interior amenities include dishwashers, fireplaces, balconies/patios and full-size washer/dryers. The properties are located in the heart of the Silicon Forest, according to a prepared release, with major employers including, Nike, Tektronix, Intel, Genentech, and Kaiser Permanente.