Monday, February 16, 2015

HFF closes $59 million sale of and arranges $44.25 million financing for Class A multi-housing community in suburban Portland, OR


Jory Trail at the Grove Apartments, 8750 Southwest Ash Meadows Road, Portland, OR

Ira Virden
PORTLAND, OR  – HFF announced it has closed the $59 million sale of and arranged $44.25 million in acquisition financing for Jory Trail at the Grove, a 324-unit, Class A, garden-style multi-housing community in Wilsonville, a suburb south of Portland, Oregon.

HFF worked on behalf of the seller, a partnership between Holland Partner Group and The Carlyle Group, Inc.  M&C Properties out of Salt Lake City, Utah, purchased the asset for $59 million.

 Additionally, HFF worked on behalf of the new owners to secure a $44.25 million fixed-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. 

  The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program. 

                Jory Trail at the Grove is situated on 21.25 acres at 8750 Southwest Ash Meadows Road adjacent to Interstate 5 in Wilsonville and less than 20 miles south of downtown Portland.  


Kerry Hughes
The property is located within the master-planned community The Grove and within walking distance of tech and manufacturing companies, including Xerox, Mentor Graphics, Fir Systems and Rockwell Collins. 

Completed in 2012, the 94-percent-leased property features walking trails, Wi-Fi access in all units and public spaces, a 24-hour fitness center, pool and sundeck with heated hydrotherapy spa. 

                The HFF investment sales team was led by managing director Ira Virden and associate director Kerry Hughes.

                The HFF debt placement team was led by managing directors Charles Halladay and Tom Wilson and analysts Sebastian Trujillo and Charlie Watson.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com



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