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| Axcess 15 Apartments, Lloyd District, Portland, OR |
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| Charles Halladay |
PORTLAND, OR –– Holliday
Fenoglio Fowler, L.P. (HFF) announces the $66 million sale of
and financing for Axcess 15, a 202-unit, transit-oriented apartment
property in the Lloyd District of Portland, Oregon.
The HFF team
represented the seller, Waterton, and procured the buyer, MG Properties
Group.
Additionally, the HFF team worked on behalf of the new owner to
secure a loan through Freddie Mac’s CME Program.
The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.
The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.
Located at 1500 NE 15th Avenue,
Axcess 15 is within a short distance to several grocery stores and other retail
and entertainment amenities, including Lloyd Center Mall, Moda Center and
Oregon Convention Center.
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| Carrie Kahn |
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| Scott Gilson |
The
four- and five-story property features a mix of one- and two-bedroom units
averaging 851 square feet as well as more than 18,000 square feet of
100-percent-leased ground-floor retail.
Community
amenities include a 24-hour fitness center, business center, resident lounge,
landscaped courtyards and controlled access parking. Unit amenities
include open layouts with breakfast bars, in-unit washers and dryers, and
balconies or patios.
The HFF investment advisory team representing
the seller included senior managing director Ira Virden and director Carrie
Kahn.
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| Rick Salinas |
HFF’s debt placement team representing the
borrower consisted of senior managing director Charles Halladay and directors Scott
Gilson and Rick Salinas.
Waterton is a real estate investor and operator with a focus on U.S. multifamily and hospitality properties.
Founded in 1995, Waterton executes value-add strategies and manages a national portfolio of multifamily and hospitality properties on behalf of institutional investors, family offices and financial institutions.
MG Properties Group (www.mgproperties.com) is a privately owned West Coast real estate owner and operator specializing in multi-housing assets.
Since 1992, the company has acquired and managed over 140 properties totaling over 20,000 units. Today, MG Properties Group manages over 17,000 apartment homes in over 55 communities in high-growth cities in California, Arizona, Nevada, Washington and Oregon. The company’s apartment portfolio has a total market value of over $2 billion.
For more information, please contact:
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500
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