Sale of newly constructed multi-housing community near Adidas Headquarters in North Portland closes
JLL Capital Markets closed the sale of the 141-unit The Perch PDX in the Overlook neighborhood of Portland, Oregon
PORTALND, Oct. 24, 2023 – JLL Capital Markets announced that it has closed on the sale of The Perch PDX, a 141-unit, newly constructed, luxury, transit-oriented multi-housing community located in the highly sought-after Overlook neighborhood of North Portland, Oregon.
JLL represented the seller, Fairfield, and procured the buyer, Green Leaf Capital Partners.
Built in 2020, The Perch PDX features studio, one- and two-bedroom units, averaging 648 square feet in size. Units feature stainless steel appliances, modern cabinetry, quartz countertops, vinyl plank flooring and full-size washers and dryers. Community amenities include 7th and 3rd floor terraces, a game room, a fitness center, co-working spaces, secured access garage parking, dog washing station and more.
The Perch PDX is located at 5325 N. Interstate Ave. within a highly walkable, mixed-use lifestyle and leisure activity hub. The property is ideally situated within walking distance to a MAX Light Rail line as well as the abundance of shops, dining, music venues and more within the North Mississippi and North Interstate Avenue retail corridors. Residents also have convenient access to Interstate-5, Interstate 405 and Interstate 84, as well as the retail on North Williams Avenue, North Vancouver Avenue and Northeast Alberta Street. Nearby top employers include the Adidas’ North American Headquarters, Daimler North American HQ, Genetech, Kaiser Permanente, Legacy Health and Prologis Meadows. Additionally, parks and entertainment within close distance of the community include Patton Square City Park, Mock’s Crest, Overlook Park, Moda Center and Oregon Convention Center.
The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Director Ira Virden, Managing Director Carrie Kahn and Director 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.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Fairfield
Fairfield is a leading owner, developer, and operator of multifamily communities throughout the U.S. Fairfield manages approximately 40,000 units nationwide across luxury new construction, renovated apartment homes, and tax credit affordable housing in urban and suburban neighborhoods. Fairfield offers a fully integrated national multifamily services platform providing development, construction, renovation, asset and property management, and acquisition and disposition services to our investors. Fairfield operates nationwide with regional offices in Atlanta, Boston, Dallas, Denver and Washington, D.C. Fairfield Realty Advisors LLC is registered as an investment adviser with the U.S. Securities and Exchange Commission.