Done Deals: Mar 19, 2024

Tuesday, March 19, 2024

JLL Capital Markets arranges sale of the 183-unit Creekview Crossing apartment community in Sherwood, OR

Carrie Kahn

PORTLAND, OR –PORTLAND, OR – JLL Capital Markets has closed the sale of Creekview Crossing, a 183-unit, garden-style community located in the Portland suburb of Sherwood, Oregon. The price was not disclosed.

JLL worked on behalf of the seller, and procured the buyer, a fund managed by LaSalle Investment Management.

Ira Virden

Built in 2009, Creekview Crossing offers spacious one-, two- and three-bedroom floorplans with attached garages, nine-foot ceilings, granite countertops and central HVAC, as well as community amenities, including a 24-hour fitness center, a playground, a pool and picnic tables.

As part of the transaction, the buyer assumed the below-market financing.

Situated at 21759 SW Cedar Brook Way, Creekview Crossing is positioned less than 25 minutes from downtown Portland.

Frank Solorzano

The property’s location offers residents exceptional transit connectivity with the proximate Highway 99, SW Tualatin-Sherwood Road, and Interstate 5, allowing access to the region’s top retail destinations, employers and Sherwood’s highly regarded school district.

Nearby employment hubs include the 15-million-square-foot Tualatin-Sherwood Industrial Hub, the Legacy Meridian Park Medical Center, LAM Research, Willamette Valley Wine Country, Providence Sherwood and Tonquin Employment Area.

Creekwood Crossing, a 183-unit, garden-style community
located at. 21759 SW Cedar Brook Way
in the Portland, OR suburb of Sherwood

The JLL Capital Markets Investment Sales Advisory team was led by Senior Managing Director Ira Virden, Managing Director Carrie Kahn and Director Frank Solorzano.

“This is another example of institutional buyers still being very interested in the Portland market. We had excellent interest in the offering and continue to see a tremendous amount of capital looking at Portland,” said Virden.