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 the Portland region back in 2019.
According to Max Sharkansky, Managing Partner at Trion Properties, the three-asset portfolio generated an impressive IRR of over 29%. The sale of York Apartments alone brought in $10.85 million or approximately $209k per unit. After holding onto this property for 48 months, it yielded an IRR of 13.75% and an equity multiple of 1.48.
The other two assets included in this portfolio – The Parker and Aster Parc Townhomes – were also sold earlier this year (in May and July respectively), significantly boosting the overall return on investment for all three properties to a total EM ratio of 2.11.
This successful disposition by Trion Properties showcases their expertise as they continue to make strategic investments across California and Florida’s multifamily market.
