PORTLAND, ORE. – JLL Capital Markets announced today that 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. The 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.

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.

PORTLAND, ORE. – JLL announced today that it has arranged joint venture equity for the development of Block 40, a 232-unit, luxury multi-housing project in Portland’s South Waterfront neighborhood.

Working on behalf of the developer, Alamo Manhattan, JLL arranged the joint venture equity partnership with MetLife Investment Management.

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.

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; and dog park and dog wash.

The JLL Capital Markets team representing Alamo Manhattan was led by Senior Managing Director Ira Virden, Senior Director Mark Erland and Directors Matt Benson and Charlie Watson.

NEWPORT BEACH, CA – January 7, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces $96.5 million in financing for the development of 100 Columbia, a 348-unit, Class A+ high-rise multi-housing community in the Portland CBD.

The HFF team worked on behalf of the developer, Alamo Manhattan, to secure the four-year construction loan through PCCP, LLC.  As previously announced, HFF also assisted Alamo Manhattan in securing joint venture equity for the project in a transaction closed in May 2018.

100 Columbia is located on a 0.92-acre site that spans the block bound by SW Clay Street, SW 1st Avenue, SW Columbia Street and SW 2nd Avenue.  The site, which has a WalkScore® of 93, will support what will be the nearest high-rise residential building to the Willamette River in the CBD.  The site is also one block from Tom McCall Waterfront Park to the east and Keller Auditorium to the west and is within three blocks of the CBD’s core job center that is home to more than two million square feet of high-rise office.

Due for completion in 2020, 100 Columbia will include a mix of studio, one- and two-bedroom ultra-luxury units averaging 817 square feet.  The 20-story development will feature premium interior finishes and community amenities, including an expansive 15,000-square-foot, sixth-floor amenity terrace and a 20th-floor rooftop resident lounge, which will open onto an observation deck offering unobstructed views of the downtown skyline, Mount Hood and the river.  The property will also include a 16th floor rooftop terrace.  In addition to the multi-housing component, 100 Columbia will incorporate nearly 15,000 square feet of ground-floor retail, which will provide immediate convenience for residents and office employees in the surrounding area.

The HFF debt placement team representing the developer included senior director Mark Erland and director Matt Benson along with director Charlie Watson.

Holliday Fenoglio Fowler, L.P. (HFF) announces $47.37 million in joint venture equity for the development of 100 Columbia, a 347-unit, Class A+ high-rise multi-housing community in the Portland CBD.

Working on behalf of developer, Alamo Manhattan, the HFF team arranged a joint venture equity partnership with Diamond Realty Investments.

100 Columbia is located on a 0.92-acre site that spans the block bound by SW Clay Street, SW 1st Avenue, SW Columbia Street and SW 2nd Avenue.  The site, which has a WalkScore® of 93, will support what will be the nearest high-rise residential building to the Willamette River in the CBD.  The site is also one block from Tom McCall Waterfront Park to the east and Keller Auditorium to the west, and is within three blocks of the CBD’s core job center that is home to more than two million square feet of high-rise office.

Due for completion in 2020, 100 Columbia will include a mix of studio, one- and two-bedroom ultra-luxury units averaging 801 square feet.  The 20-story development will feature premium interior finishes and community amenities, including an expansive 15,000-square-foot, sixth-floor amenity terrace and a 20th-floor rooftop resident lounge, which will open onto an observation deck offering unobstructed views of the downtown skyline, Mount Hood and the river.  The property will also include a 16th floor rooftop terrace.  In addition to the multifamily component, 100 Columbia will incorporate nearly 15,000 square feet of ground-floor retail, which will provide immediate convenience for residents and office employees in the surrounding area.

The HFF equity placement team representing the developer included senior managing director Ira Virden, senior director Mark Erland and director Matt Benson.