Press Release

CBRE Sells The Reserve At Ashbrook In Tigard, OR FOR $10.65M

05 3 2018

CBRE Sells The Reserve At Ashbrook In Tigard, OR FOR $10.65M

CBRE is pleased to announce the sale of The Reserve at Ashbrook, a 43-unit apartment community in Tigard to Chicago-based Back Nine Acquisitions for $10,650,000. Phil Oester, Joe Nydahl and Josh McDonald of CBRE’s Northwest Multifamily Institutional Investment team completed the sale on behalf of the seller, Artemis/Gerding Edlen.  

The Reserve at Ashbrook was built in two phases, with phase one finished in 2009 and phase two, in 2012. The townhome-style design really separates the community from its competition. The homes offer a mix of one- and two-bedroom options featuring attached direct-access garages, dog area, washer and dryers, granite countertops and stainless steel appliances. Ground floor homes include private fenced yards. 

“The Reserve at Ashbrook presents a rare opportunity to own an institutional-grade property in the expanding Tigard submarket of Washington County,” says Phil Oester, Senior Vice President. “The townhome style apartments with attached garages in the market today are highly sought-after from investors due to scarcity within the marketplace.”  

The property mailing address is 9378 SW Mandamus Court in Tigard, Oregon.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.