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2 Portland, Ore., multifamily properties trade for $91M

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2 Portland, Ore., multifamily properties trade for $91M

MG Properties Group acquired the 197-unit Westview Heights multifamily property in the Rock Creek submarket of Portland, Ore., for $60.5 million from SARES-REGIS Group Inc., Multi-Housing News reported, citing Yardi Matrix data.

The 97%-occupied property at 18301 NW Chemeketa Lane contains 46 buildings.

Separately, an undisclosed private California-based investor paid $30.8 million to acquire the 172-unit, 97.1%-occupied Binford Garden Townhomes community at 6905 NE Hancock St. in the Madison South submarket of Portland, which was subject to a $17.9 million Fannie Mae loan. Berkeley Point Capital originated the loan.

HFO Investment Real Estate brokered the sale of the two Portland properties for a combined $91.3 million.