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PORTLAND, OR-GlobeSt.com has exclusively learned that Oregon-based Glenbrook Partners Ltd. Partnership has sold its Glenbrook Apartments for $33.7 million. The buyer was an affiliate of New York City-based Abacus Capital Group.

Atlanta-headquartered ARA was the broker on behalf of the seller of the 406-unit, class B Beaverton, OR community sale. According to ARA principal Gail Neuburg, “Portland’s Westside close-in locations are experiencing some of the lowest vacancy rates in the country and the development pipeline is extremely constrained, so we will see more emphasis on improving existing properties as an investment strategy.”

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