{"id":1004123273,"date":"2015-07-14T07:44:37","date_gmt":"2015-07-14T15:44:37","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=355158"},"modified":"2020-05-22T00:40:51","modified_gmt":"2020-05-22T08:40:51","slug":"washington-investor-scoops-up-rip-city-apartments-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/washington-investor-scoops-up-rip-city-apartments-2\/","title":{"rendered":"Washington Investor Scoops Up Rip City Apartments"},"content":{"rendered":"

By Ioana Neamt, Associate Editor<\/em><\/p>\n

\"Wyndham<\/a><\/p>\n

Wyndham Park – Beaverton, Ore.<\/em><\/p>\n<\/div>\n

Two multifamily communities in Beaverton, Ore. have recently changed hands in a $63.9 million deal secured by Berkadia<\/a>. The company\u2019s Portland office arranged the sale of Wyndham Park I & II<\/a>, a portfolio of communities totaling 423 units, through a team led by managing director Phil Oester and director Joe Nydahl.<\/p>\n

According to a news release, KI-Wyndham Park LLC sold the portfolio to Washington-based Holland Acquisition Co. LLC for a combined $63.9 million. Wyndham Park I had a price tag of $34.5 million, while Wyndham Park II sold for $29.4 million. The deal, which involved the assumption of two Freddie Mac loans, closed in early June 2015.<\/p>\n

Holland Acquisition intends to renovate the two properties and merge them into one larger garden-style community. According to Phil Oester, the asset is \u201can ideal value-add property where a small investment in interior upgrades and repositioning the combined properties into a larger, amenity rich community can have big rewards.\u201d<\/p>\n

Wyndham Park I is a 228-unit community located at 14700-14790 SW Scholls Ferry Road that incorporates one-, two-, and three-bedroom apartments built in 1996. Amenities include two swimming pools, Jacuzzi and sauna, fitness and business facilities, clubhouse and children\u2019s playground.<\/p>\n

The 195-unit Wyndham Park II offers residents amenities such as a swimming pool, Jacuzzi and sauna, fitness center, clubhouse and parking garages.<\/p>\n

The two communities are conveniently located in Beaverton\u2019s upscale Murray Hill neighborhood, and offer easy access to downtown Portland, the Cedar Hills Shopping Center and the Washington Square Mall.<\/p>\n

The city of Beaverton is one of the most walker-friendly communities in the country, and was named one of the Top 25 Suburbs for Retirement by Forbes Magazine<\/a><\/em> in 2011.<\/p>\n

 <\/p>\n

Image courtesy of Wyndham Park<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Two multifamily communities in Beaverton, Ore. have recently changed hands in a $63.9 million deal secured by Berkadia.<\/p>\n","protected":false},"author":192,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1610],"tags":[],"class_list":["post-1004123273","post","type-post","status-publish","format-standard","hentry","category-latest","category-seattle"],"acf":[],"yoast_head":"\nWashington Investor Scoops Up Rip City Apartments - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/washington-investor-scoops-up-rip-city-apartments-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Washington Investor Scoops Up Rip City Apartments\" \/>\n<meta property=\"og:description\" content=\"Two multifamily communities in Beaverton, Ore. have recently changed hands in a $63.9 million deal secured by Berkadia.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/washington-investor-scoops-up-rip-city-apartments-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-07-14T15:44:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-22T08:40:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/swimming-pool.jpg\" \/>\n<meta name=\"author\" content=\"Ioana Neamt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/washington-investor-scoops-up-rip-city-apartments-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/washington-investor-scoops-up-rip-city-apartments-2\\\/\"},\"author\":{\"name\":\"Ioana Neamt\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/993af2799cdaf5162633d320cf63ff16\"},\"headline\":\"Washington Investor Scoops Up Rip City Apartments\",\"datePublished\":\"2015-07-14T15:44:37+00:00\",\"dateModified\":\"2020-05-22T08:40:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/washington-investor-scoops-up-rip-city-apartments-2\\\/\"},\"wordCount\":293,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/washington-investor-scoops-up-rip-city-apartments-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/07\\\/swimming-pool.jpg\",\"articleSection\":[\"News\",\"Seattle\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/washington-investor-scoops-up-rip-city-apartments-2\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/washington-investor-scoops-up-rip-city-apartments-2\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/washington-investor-scoops-up-rip-city-apartments-2\\\/\",\"name\":\"Washington Investor Scoops Up Rip City Apartments - 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