(To read more on the multifamily market, click here.)
BEAVERTON, OR-Equity Residential has sold one of its twoapartment properties here for $32.8 million. The Chicago-basedmultifamily REIT sold the 440-unit Woodcreek Apartments to a jointventure led by Kennedy Wilson Multifamily Management Group, a unitof Beverly Hills-based Kennedy Wilson Inc.
The 337,920-sf garden-style apartment community was built in1984. It sits on 20 acres at 3280 SW 170th Avenue and is surroundedby a 222-acre nature reserve. KW Multifamily intends to spendapproximately $3 million in renovations and upgrades in an attemptto bring the community back to its former class A standard.
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