PORTLAND, OR – San Francisco-based real estate company Hamilton Zanze (HZ) has acquired the 145-unit courtyards in the Cedar Hills community of Beaverton, Oregon. The purchase marks the company's seventh acquisition in the greater Portland area.
The Courtyards at Cedar Hills were built in 1969 and 1975 and comprise 145 one-, two-, and three-bedroom apartments with an average size of 900 square feet. Communal facilities include an indoor pool, fitness center, laundry facilities, playground, and lockers for Amazon HUB packages.
"We are excited to have the opportunity to shop in Beaverton, OR and further expand our presence in the Portland MSA," said David Nelson, general manager, acquisitions, Hamilton Zanze. "The Courtyards at Cedar Hills are conveniently located near Oregon Route 217 and US Route 26, which give residents easy access to downtown Portland and other major employment centers."
HZ's capital improvement plan includes unit renovations, pool and landscaping improvements, asphalt and roof repairs, and fresh exterior paint. Management of the property has also been transferred to HZ subsidiary Mission Rock Residential, a Denver-based company.
The community is located at 13643 SW Electric St, two miles from Nike World Headquarters, in the coveted East Beaverton submarket. As of 2020, Nike employed over 76,000 people worldwide and 12,000 at its Beaverton headquarters. The property is also 10 miles west of downtown Portland, dubbed the "Silicon Forest" because of its rapidly growing center of high tech and life science technology companies. The metro benefits from a young, well-educated workforce and has been one of Forbes' top 5 business locations for five years.
Source: Hamilton Zanze