Trion Properties, a real estate investment firm specializing in multifamily properties, has successfully sold York Apartments in Tigard, Oregon. This marks the third sale of garden-style apartment properties that Trion acquired in Portland back in 2019.
According to Max Sharkansky, Managing Partner at Trion Properties, the combined sale of these three assets resulted in an impressive IRR of over 29%. The specific property was sold for $10.85 million or approximately $209k per unit after being held for 48 months. Its individual performance showed an IRR of 13.75% and an equity multiple (EM) of 1.48.
The other two properties included in this portfolio – The Parker and Aster Parc Townhomes – were also successfully sold earlier this year (May and July). These sales significantly contributed to the overall return on investment for the entire portfolio with a final EM ratio reaching up to 2.11.
This recent transaction is another testament to Trion’s expertise and success as a leading player within the Portland real estate market.
