JLL Capital Markets announced that it has closed the $47 million sale of Summit at Hyland Park, a 137-unit, value-add, garden-style multihousing community located in Beaverton, Oregon.
JLL represented the seller, DB Capital Management. FPA Multifamily acquired the asset.
Built in 1985, renovated in 2016 and updated in 2020, Summit at Hyland Park consists of one-, two- and three-bedroom units with luxury vinyl plank and carpet flooring, quartz countertops, stainless steel appliances, in-unit washers and dryers, walk-in closets, a wood-burning fireplace and a private balcony or patio. Community amenities include a community clubhouse, a dog park, a pool and spa, a fitness center, a business center and a barbeque area.
Located at 14305 SW Sexton Mountain Dr., the property is with a three-mile radius of over 10 million square feet of retail amenities including Progress Ridge TownSquare, Murray Scholls Town Center, Washington Square Mall, Greenway Town Center and Cedar Hills Crossing. The property is proximate to recreation options such as Hyland Forest Park, Sexton Mountain Meadows Park, Greenway Park, Summerlake City Park, Cooper Mountain Nature Park, Dirksen Nature Park and Woodard Park. Residents are also within close distance to the region’s largest employers such as Intel, an industry Leading footwear company world headquarters, Providence St. Vincent Medical Center and the “Silicon Forest,” a dense concentration of premier technology companies. In addition, the property’s location offers residents connectivity to downtown Beaverton, Hillsboro and downtown Portland through Beaverton Transit Center, TriMet Busline 62, Highway 26, Highway 217, Highway 210 and Interstate 5.
The JLL Capital Markets team representing the seller was led by Senior Managing Director Ira Virden, Senior Director Carrie Kahn and Associate Frank Solorzano.
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 and sales 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.
