 |
| Carrie Kahn |
PORTLAND,
OR – JLL Capital Markets
announced it has
closed the $28.2 million sale of the Preserve at Sunnyside,
a 108-unit value-add multi-housing community located in the sought-after
Clacakamas submarket of Portland, Oregon.
JLL marketed the property
exclusively on behalf of the seller, Hamilton
Zanze, to complete the
sale to the buyer, RISE Properties Trust.
 |
| Preserve at Sunnyside apartments located at 13300 SE 122nd Avenue in the Clacakamas submarket of Portland, OR |
The JLL Capital Markets team representing the seller was led by Senior Managing Director Ira Virden, Senior Director Carrie Kahn and Associate Frank Solorzano.
“The
Preserve at Sunnyside’s location in Happy Valley and recent capital
improvements to the property’s exterior make it ideal for a value-add
strategy,” said Virden.
 |
| Frank Solorzano |
“It is no surprise that Happy Valley and Clackamas are seeing high levels of investor demand. The submarket has been a strong performer, even throughout the pandemic. Population growth surpassed 32% over the past five years, while apartment supply increased only 8%.”
“We are glad to pass along this
community to another owner who will benefit from the thriving submarket,
desirable location, and the substantial improvements we made to units and amenities
over our seven years of ownership,” said Anthony Ly, Director of
Dispositions for Hamilton Zanze.
Built in 1991, the Preserve at
Sunnyside comprises nine garden-style residential buildings with a mix of one-,
two-, and three-bedroom units averaging 1,025 square feet.
The pet-friendly community features an outdoor pool and spa,
clubhouse with full kitchen, covered parking, a dog park and a playground.
Anthony Ly
The property has been partially renovated,
leaving an opportunity for new ownership to complete renovations and capitalize
on the submarket’s substantial rent growth.
For more news, videos and research resources on JLL, please visit our newsroom.
CONTACT:
Natalie Passarelli
JLL Senior Associate
Public Relations
Phone: +1
224 477 7307
Email: Natalie.Passarelli@am.jll.com\
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