JLL Capital Markets announced that it has secured the sale and financing for The Louisa, a 242-unit multifamily high-rise in Portland, Oregon.
JLL worked on behalf of the seller in procuring the buyer, Guardian Real Estate Services and their capital partner. Additionally, JLL arranged the five-year, fixed-rate loan for the buyer.
Situated on one fully city block at 123 NW 12th Avenue in Portland’s renowned Pearl District, The Louisa offers an ideal location just blocks from the Central Business District, Slabtown and the Northwest District. Residents enjoy easy access to the city’s most popular retail, dining and grocery options. Transportation is seamless, with I-405, I-5, U.S. 26 and Portland Union Station all nearby, connecting the community to the broader metropolitan area.
Portland MSA, home to 2.6 million residents with an average household income of $130,600, offers a thriving urban environment attractive to both businesses and residents. The Pearl District houses approximately 17,000 employees across diverse industries and sits adjacent to the bustling Central Business District. The city boasts prestigious higher education institutions, including Oregon Health & Science University, Portland State University and the University of Portland. Portland’s appeal is enhanced by its lack of state sales tax, a robust high-tech real estate market and an efficient public transportation system. These factors, combined with favorable demographics, contribute to the city’s dynamic economic landscape and high quality of life.
Built in 2005, The Louisa offers 29,295 square feet of ground-floor retail space with notable tenants like West Elm, Lululemon and Williams-Sonoma, in addition to the 16-story luxury high-rise. The exceptional townhome, studio, one- and two-bed apartments feature spacious floor plans, 10-foot ceilings, stainless steel appliances, full-size washers and dryers and hardwood style LVT flooring.
JLL Capital Market’s Investment and Sales Advisory team was led by Senior Managing Director Ira Virden, Managing Director Carrie Kahn and Director Frank Solorzano. The Debt Advisory team was spearheaded by Senior Managing Director Casey Davidson and Director Charlie Watson.
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.
