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| Carrie Kahn |
PORTLAND, OR – JLL Capital Markets announced it has closed the $20.5 million sale and arranged the $11.275 million financing of Latitude 45, a 90-unit, newly constructed, garden-style apartment community located at 11202 N.E. 20th Street in Vancouver, WA.
JLL worked
exclusively on behalf of the seller, Ginn Group, to complete the property sale
to a private buyer.
JLL
also worked on behalf of the buyer to secure a 10-year, fixed-rate acquisition
loan through Fannie Mae. The loan will be serviced by JLL Real Estate Capital,
LLC, a Fannie Mae DUS lender.
Ira Virden
Latitude 45 is located in the Landover-Shamel neighborhood, which
has a plethora of entertainment and shopping options nearby, such as the
Vancouver Mall, Four Seasons Shopping Center, the Vancouver Waterfront, and
Mill Plain Plaza.
The
property is close to Interstate 205, providing residents with connectivity to
downtown Portland, downtown Vancouver and the Portland International Airport.
The community, which completed construction in
July 2020, is comprised of one- and two-bedroom units averaging 975 square
feet. Latitude 45 community features a community clubhouse, package lockers,
and green space.
The
JLL Capital Markets team representing the seller was led by Senior Managing
Director Ira
Virden and Senior Director Carrie Kahn.
Charlie Watson
“Strong
absorption and demonstrated resiliency during this challenging environment
highlight the continued demand from renters and investors for a well-located,
high-quality apartment community,” comments Kahn.
JLL’s
Capital Markets debt placement team representing the new owner was led by
Director Charlie
Watson.
For more news, videos and research resources on
JLL, please visit our newsroom.
CONTACT:
Natalie Passarelli
Public Relations
Jones Lang LaSalle Americas, Inc.
200 E. Randolph St.
Chicago, IL 60601
M +1 224 477 7307
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