Trion Properties significantly expanded the size of its portfolio last year, adding more than 5,805 units across the West Coast and Southeast.
The firm — a private equity real estate firm based in West Hollywood and Miami, specializing in multifamily investments — added 11 new properties through nine transactions with a total acquisition value of more $489 million and completed eight disposition and four recapitalization transactions with a total value of $308.5 million.
“Following a record year of growth in 2021, 2022 was a year when runaway inflation and Fed interest rate increases created challenges for every investor,” Max Sharkansky, managing partner at Trion Properties, said in a statement.
“Even with strong headwinds, we were able to significantly grow our portfolio and successfully exit eight properties with an excellent rate of return across all the transactions,” he added.
Last year, Trion completed its largest acquisition to date, a 402-unit multifamily community located at 6201 W. 26th Ave in Edgewater, Colorado, a submarket of Denver. Purchased for $108.8 million, the complex originally called Terra Village was rebranded as Edge 26 at Sloan’s Lake. This property increased Trion’s presence in Colorado to 1,500 units across five portfolio properties.
“Trion’s investment philosophy is to target select geographic markets where we can successfully operate throughout the real estate cycle—not just when times are good. We look for sustainable growth supported by a diverse set of strong economic drivers and favorable supply-demand dynamics. The current trends in Denver, the Pacific Northwest, and Southeastern U.S. make them ideal areas for Trion’s growth,” Sharkansky said.
Last year Trion added a three-property portfolio totaling 302 units for $94.8 million in the Portland, Oregon, submarket of Beaverton. The assets at 18300 NW Walker Road., 15195 SW Walker Road.\ and 11981 SW Center St. are each situated in prime locations with direct access to public transportation, shopping and entertainment. The acquisitions of Jasper Place, Jasper Square, and Willow Grove brought the current number of properties Trion owns and manages in the region to 13.
Georgia has also been a market of focus for Trion. In 2022, the firm purchased three multifamily assets in Savanah, Georgia, which has experienced 20% year-over-year rent increases and strong population growth. The properties at 11900 and 10014 White Bluff Road in the Southside submarket of Savannah total 297 units and were acquired for $57.7
