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Security Properties Acquires River Ridge Apartments in Oregon, USA.

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Vincent

MANews-(C)2009-2022

US-based real estate investment, development, and operating company Security Properties has purchased River Ridge, a class A multifamily property located in Tualatin, Oregon for USD 70m, the company said.

Security Properties now owns 11 assets totaling over 2,800 units in the Greater Portland MSA.

River Ridge was delivered in two phases from 2015 2017 and consists of 180 units spread out across 14 residential buildings and approximately nine acres.

The residential units are a mix of one, two and three-bedroom floorplans with an average unit size of 977 SF.

The property is located within the outlying suburbs of the Portland Metro in the highly desirable suburb of Tualatin, Oregon.

Throughout the last 10 years, the city of Tualatin has been one of the fastest growing cities in Oregon.

However, unlike many other sprawling regions, Tualatin continues to maintain a high standard of living, yet remains an affordable place to locate a family.

Additionally...

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