(Read more on the multifamily market.)
TUALATIN, OR-Hedges Creek, a 408-unit garden-style apartmentdevelopment here has changed hands for $55 million, according tocounty property records. Monadnick Property Trust of Englewood, COsold the 10-year-old property to SVF Hedges Creek Tualatin LLC,which is controlled by a commingled fund of American RealtyAdvisors, a Glendale, CA-based investment advisor.
Located across Southwest Tualatin Road from the Tualatin CountryClub, the 339,144-sf (net rentable) property includes 19 buildings.Units average 831 sf. Amenities include a clubhouse, fitnesscenter, pool, picnic area, covered parking garage and a walkingbridge to retail shops.
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