Garden-style luxury apartment community sells for $58 million in Portland, OR MSA

 

Carrie Kahn

PORTLAND, OR –  JLL Capital Markets has arranged the $58.25 million sale of Sonder Fields, a newly built, 180-unit community in Happy Valley, Oregon.   JLL worked on behalf of the seller, Cobalt, to facilitate the sale.   Located at 14798 SE Parklane Dr., Sonder Fields offers residents easy access to I-205 and proximity to major retail centers such as Clackamas Town Center and Happy Valley Crossroads.  Sonder Fields, a newly built, 180-unit community in Happy Valley, OR The community benefits from connectivity to employment hubs like the Portland Central Business District and Kaiser Sunnyside Medical Center, ensuring convenience to key job centers.   Additionally, the Clackamas Town Center Transit Center and nearby bus line 155 provide excellent public transportation access throughout the Portland MSA. Ira Virden Happy Valley, located just nine miles southeast of Portland, is Oregon's fastest-growing city with a 28% population increase from 2018 to 2023. The town offers a strong economy with access to major employers and outdoor recreation. Happy Valley’s blend of suburban charm and urban conveniences makes it attractive for residents and investors alike. Frank Solorzano.   Sonder Fields distinguishes itself in a submarket with supply constraints and expected robust rent growth of 3.4% annually through 2028, providing a high-quality rental alternative to homeownership where sale prices average $755,529.   Sonder Fields, built in 2023, spans 9.95 acres and offers one-, two- and three-bedroom units with an average size of 972 square feet.   JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Managing Director Ira Virden, Managing Director Carrie Kahn and Director Frank Solorzano.   Contact:   Gréta Kieras​​​​ Senior Associate,  Public Relations JLL Capital Markets 1980 Festival Plaza Drive Suite 250 Las Vegas,  NV  89135 T  +1 949 930 8498 Greta.Kieras@jll.com CA  RE license # 02111877 us.jll.com/capitalmarkets Jones Lang LaSalle Americas, Inc. a licensed real estate  brokerage company. ​CA RE license #01223413