 |
| Carrie Kahn |
PORTLAND, OR – JLL Capital Markets has closed the $30 million sale of TownCenter Park, a 111-unit, 1990-built, garden-style multi-housing community in Wilsonville, Oregon.
JLL
marketed the property on behalf of the seller, Curtis Capital Group, and
completed the sale to RISE Properties Trust.
TownCenter
Park comprises one-, two- and three-bedroom units ranging from 802 to 1,350
square feet.
Ira Virden
The
seller completed significant exterior improvements during their five-year
ownership including new siding, roofs and windows.
Interior
renovations to 40 units included upgrading vinyl plank flooring and carpet,
stainless steel appliances, laminate countertops, white shaker cabinetry and
hardware, upgraded lighting, new decks and two-inch faux wood blinds.
The property is located at 29250 Southwest Parkway Ct. in Wilsonville, a suburban neighborhood along the banks of the Willamette River.
 |
| Frank Solorzano |
Additionally,
the community is 1.5 miles from the WES Commuter light rail station, which runs
north along Interstate 5, connecting Wilsonville with other public transit
lines such as MAX light rail in Beaverton.
The
JLL Capital Markets Investment Sales Advisory team representing the seller was
led by Senior Managing Director Ira Virden, Senior Director Carrie
Kahn and Associate Frank Solorzano.
“The
combination of a proven value-add program, lack of new multi-housing
development within Wilsonville and the extensive capital improvements completed
by the seller make TownCenter Park a strong addition to RISE Properties Trust’s
portfolio,” Kahn said.
TownCenter Park, 111 units, Wilsonville, OR
“Our team was thrilled to represent Curtis Capital Group on this transaction, which was one of the first value-add opportunities marketed in the Portland MSA in early 2021.”
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CONTACT:
Kimberly Steele
JLL Manager
Public
Relations
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com
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