JLL Capital Markets announced that it closed the sale of Creekview Crossing, a 183-unit, garden-style luxury multifamily community located in the Portland suburb Sherwood, Oregon.
Built in 2009, Creekview Crossing offers spacious one-, two- and three-bedroom floorplans with attached garages, nine-foot ceilings, granite countertops and central HVAC, as well as community amenities, including a 24-hour fitness center, a playground, a pool and picnic tables. As part of the transaction, the buyer assumed the below-market financing.
The property’s location offers residents exceptional transit connectivity with the proximate Highway 99, SW Tualatin-Sherwood Road, and Interstate 5, allowing access to the region’s top retail destinations, employers and Sherwood’s highly regarded school district. Nearby employment hubs include the 15-million-square-foot Tualatin-Sherwood Industrial Hub, the Legacy Meridian Park Medical Center, LAM Research, Willamette Valley Wine Country, Providence Sherwood and Tonquin Employment Area.
JLL worked on behalf of the seller, and procured the buyer, a fund managed by LaSalle Investment Management. The JLL Capital Markets Investment Sales Advisory team was led by Senior Managing Director Ira Virden, Managing Director Carrie Kahn and Director Frank Solorzano.
“This is another example of institutional buyers still being very interested in the Portland market. We had excellent interest in the offering and continue to see a tremendous amount of capital looking at Portland,” said Virden.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
