|Parkside, a 225-unit apartment community located at 2831 Palmquist Rd in Gresham, OR, sold for $16.45 mil, or about $73k/unit. The acquisition included a loan assumption.
Built in 1999, Parkside features 36 one-bedroom, 168 two-bedroom and 21 three-bedroom units. The community is located in the highly desirable east Gresham area, less than a mile from the Gresham Village shopping district and less than three miles from Mt. Hood Community College and Legacy Medical Center. MAX light rail service is easily accessible from the property, providing a 20-minute ride to downtown Portland.
Phil Oester of the Portland office of Hendricks & Partners represented the seller, Parkside Gresham, LLC of Clackamas, OR. The buyer was Parkside CAF, LLC of Bethesda, Maryland.