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| Mark Erland |
PORTLAND, OR – JLL Capital
Markets announced it has arranged construction financing for the development of
Block 40, a 232-unit, luxury multi-housing project in Portland’s South
Waterfront neighborhood.
JLL worked on behalf of the developer, Alamo Manhattan, to arrange
the construction loan.
JLL team previously worked on the developer’s behalf
to arrange joint venture equity for the project, which was announced in October
2019.
Block 40 is being constructed on a 1.06-acre site at 3838 SW
Macadam Avenue less than one mile south of the Portland CBD.
The
transit-oriented development is also next to Oregon Health & Science
University (“OHSU”), which is currently undergoing a 1.1 million-square-foot
expansion, and steps from the Portland Streetcar, MAX Light Rail and the OHSU
Aerial Tram.
 |
| Matt Benson |
Due for completion in late 2021, the property will consist of a
seven- and eight-story podium-style building with studio, one- and two-bedroom
units averaging 724 square feet, approximately 6,500 square feet of
ground-floor retail and 174 parking spaces.
Planned amenities at the LEED-certified project
will include a rooftop terrace with firepit, spacious seating area and TVs;
courtyard with water fountain, fire pit, grilling area and seating area;
fitness center with Technogym; dog park and dog wash.
The JLL Capital Markets team representing Alamo Manhattan was led
by Senior Director Mark Erland and Directors Matt Benson and Charlie
Watson.
 |
| Charlie Watson |
For more news, videos and research resources on JLL, please visit
the firm’s U.S. media center Web page: U.S. newsroom.
Deal secured by Holliday
Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019.
Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
Contact:
Olivia
Hennessey
JLL Senior Associate
Public Relations
Phone: +1 713 852 3403
Email: Olivia.Hennessey@am.jll.com
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