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11/08/16
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Brookline Investment Group purchased Sunfield Lakes, a 200-unit, garden-style apartment community in the southwest Portland, OR suburb of Sherwood. The asset was sold free and clear of existing debt by Berkshire Group.
Sunfield Lakes is located at 16100 SW Century Drive in the rapidly-growing suburb of Sherwood, less than three miles west of the renowned Willamette Valley wine country and approximately 15 miles southwest of Portland’s central business district. The property provides an easy commute to the Portland market’s major economic drivers, such as the Tualatin/Sherwood industrial hub, Legacy Meridian Park Medical Center, LAM Research Corporation and the Wilsonville submarket.
Sunfield Lakes offers a mix of one-, two- and three-bedroom floor plans averaging roughly 1k sf each. Community amenities include an outdoor pool, hot tub, 24-hour fitness center, lounge and business center.
Ira Virden and director Carrie Kahn of HFF represented the seller in the deal.
“Sunfield Lakes is an attractive, long-term investment opportunity located in a supply-constrained submarket with strong demographics that support future rent growth,” Kahn said. “The units are larger than average, and the expansive common area space positions it well for a value-add program that will further enhance its appeal in the market.”
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