Source: Hamilton Zanze
PORTLAND, OR - San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 145-unit Courtyards at Cedar Hills community in Beaverton, Oregon. The purchase marks the firm's seventh acquisition in the Portland metro area.
Built in 1969 and 1975, Courtyards at Cedar Hills comprises 145 one-, two-, and three-bedroom units averaging 900 square feet. Community amenities include an indoor pool, fitness center, laundry facilities, playground, and Amazon HUB package lockers.
"We are excited about the opportunity to buy in Beaverton, OR and to further expand our presence in the Portland MSA," said David Nelson, managing director of acquisitions for Hamilton Zanze. "Courtyards at Cedar Hills is conveniently located near Oregon Route 217 and U.S. Route 26, which provide residents easy access to Downtown Portland and other major employment centers."
HZ's capital improvements plan includes unit renovations, pool and landscaping enhancements, asphalt and roofing repairs, and fresh exterior paint. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver based company.
The community is located at 13643 SW Electric St, two miles from the Nike World Headquarters in the desirable East Beaverton submarket. As of 2020, Nike employed over 76,000 people worldwide and 12,000 at their headquarters in Beaverton. The property also lies 10 miles west of Downtown Portland, which has been dubbed the "Silicon Forest" for its fast-growing hub of high-tech and life science technology companies. The metro benefits from a young, educated workforce and has ranked among the top-five places for business by Forbes for the past five years.