Institutional Property Advisors Closes Sale and Arranges Financing for Multifamily Asset in Suburban Portland Oregon
September 29, 2026
FOREST GROVE, Ore., Sept. 29, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale and financing of The Boxer, a 99-unit apartment property in Forest Grove, Oregon. The asset sold for $14.7 million, or $148,485 per unit.
“With an average occupancy rate of 96.8% and average annual rent growth of 3.19% over the last 10 years, the Forest Grove area is often among the strongest apartment rental markets in the Portland MSA,” said Anthony Palladino, IPA senior director investments. “In 2019, ownership conducted a comprehensive, multi-million-dollar remodel to modernize all The Boxer’s unit interiors, building exteriors, systems, and the clubhouse.” Palladino, Philip Assouad, Giovanni Napoli, Ryan Harmon, and Nick Ruggiero of IPA, in association with David Tabata, Marcus & Millichap’s broker of record in Oregon, represented the seller, Bender Equities of Hillsboro, Oregon, and procured the buyer, Tam Ridge Partners from San Francisco, California. Brian Eisendrath, Cameron Chalfant, Jake Vitta, Ray Allen, and Tyler Johnson of IPA Capital Markets arranged acquisition financing.
The property is close to Pacific University, a short drive from Hillsboro, Beaverton, and employers in the Portland MSA’s “Silicon Forest” region, home to Intel’s Ronler Acres Campus, Tektronix, Oracle, and Nvidia, among others. Employers in Forest Grove include Stimson Lumber Company, TTM Technologies, and SakéOne. Shopping is nearby at the Forest Grove Shopping Center and Woodburn Premium Outlets.
The Boxer is a nine-building property with a playground, laundry facilities, and lounge with kitchen, fireplace, shuffleboard, and dining areas. Apartments have hardwood kitchen cabinetry, stainless-steel appliances and granite countertops, storage space, and private patios.
“With an average occupancy rate of 96.8% and average annual rent growth of 3.19% over the last 10 years, the Forest Grove area is often among the strongest apartment rental markets in the Portland MSA,” said Anthony Palladino, IPA senior director investments. “In 2019, ownership conducted a comprehensive, multi-million-dollar remodel to modernize all The Boxer’s unit interiors, building exteriors, systems, and the clubhouse.” Palladino, Philip Assouad, Giovanni Napoli, Ryan Harmon, and Nick Ruggiero of IPA, in association with David Tabata, Marcus & Millichap’s broker of record in Oregon, represented the seller, Bender Equities of Hillsboro, Oregon, and procured the buyer, Tam Ridge Partners from San Francisco, California. Brian Eisendrath, Cameron Chalfant, Jake Vitta, Ray Allen, and Tyler Johnson of IPA Capital Markets arranged acquisition financing.
The property is close to Pacific University, a short drive from Hillsboro, Beaverton, and employers in the Portland MSA’s “Silicon Forest” region, home to Intel’s Ronler Acres Campus, Tektronix, Oracle, and Nvidia, among others. Employers in Forest Grove include Stimson Lumber Company, TTM Technologies, and SakéOne. Shopping is nearby at the Forest Grove Shopping Center and Woodburn Premium Outlets.
The Boxer is a nine-building property with a playground, laundry facilities, and lounge with kitchen, fireplace, shuffleboard, and dining areas. Apartments have hardwood kitchen cabinetry, stainless-steel appliances and granite countertops, storage space, and private patios.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.