JLL Capital Markets announced today it arranged $88.89 million in construction financing to build the Fremont Apartments, a Class A multi-housing community located on the Willamette River at 1550 N.E. Naito Parkway in Portland, Oregon. 

JLL worked on behalf of a partnership between Lincoln Property Company and Bridge Investment Group to secure the loan through ACORE Capital, a leading commercial real estate finance company. The asset will be held for 10+ years as it represents an Opportunity Zone investment. 

The 227,599-square-foot high-rise, apartments will consist of 236 units, averaging 932 square feet. Sitting on 1.84 acres, the property is perfectly positioned on the waterfront of the North Pearl District. The Fremont Apartments will be the tallest building in proximity to the river in Portland and is the only new permitted residential waterfront project on the west side. The 17-story upscale tower will include a mix of studios, one-bedroom and two-bedroom floor plans. The project will offer premium interior finishes and community amenities including a resident lounge, subterranean parking garage and rooftop terrace with unobstructed views of downtown Portland and the Willamette River. The property also includes a riverfront restaurant space overlooking the Willamette River.

Formerly a corridor of warehouses, the Pearl District is one of the most sought-after neighborhoods in Portland and is known for its vibrant entertainment scene, renowned restaurants, iconic art galleries and local shops and boutiques.  

The JLL Capital Markets team representing the borrower was led by Managing Directors Jordan Angel, Doug Bond and Casey Davidson and Analysts Brock Knapp and Taylor Gimian.   

“This development will represent the best units in the burgeoning Pearl District with extraordinary views of the Willamette River,” said Angel.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

Lincoln Property Company today unveiled LPC West – a unit that will be led by veteran Lincoln executive David Binswanger who has spearheaded much of the company’s growth throughout Southern California over the past decade, including the development of many high-profile projects in the burgeoning Silicon Beach and Downtown Los Angeles markets.

LPC West will expand upon its existing work in many strategic locations, including Los Angeles, Orange County, San Diego, San Francisco, Seattle, and Portland. The group’s activities will range from acquisitions and development to property management and repositioning of existing commercial, retail, and mixed-use properties.

“We are bringing our national resources and local expertise to a cohesive West Coast brand that will better serve our clients, acquisitions, and development,” said Binswanger, now Senior Executive Vice President of LPC West. “As part of the new LPC West group, we are promoting several Senior VPs to serve as Executive VPs in every key city on the West Coast, from San Diego to Seattle. We’ve assembled an A-team that will create an unparalleled one-stop-shop approach for our clients and partners.”

The new lineup will elevate executives in each of Lincoln’s primary West Coast markets.

Rob Kane has been promoted to Executive Vice President and will lead the company’s Los Angeles office. Kane has been based in Lincoln’s Los Angeles office since 2012, where he has been active in acquisition, entitlement and development efforts for the company, focusing on mixed-use projects for a variety of top-tier media, technology, and entertainment companies seeking high-quality creative office space in the L.A. area.

Kane played a key role in developing IMAX Entertainment’s West Coast Headquarters in Playa Vista and securing entitlements for a vibrant mixed-use community surrounding the Parsons headquarters at the gateway to Old Pasadena. The project, called 100 West Walnut, is a premier example of transit-oriented development with approximately 610,000 square feet of office space, 17,500 square feet of ground-floor commercial space and up to 475 residential units near the Gold Line Memorial Park Metro station.

“The L.A. market is evolving in dynamic ways as technology and media continue to converge here,” said Kane. “Our experience and local knowledge uniquely positions us to capitalize on this market growth, and we look forward to continuing to provide premier value-added services to our clients.”

In Orange County, Parke Miller, now Executive Vice President, will continue to lead Lincoln’s many ventures in the area. Miller spearheaded the development of FLIGHT at Tustin Legacy, a 1,600-acre commercial and residential community in the City of Tustin. As Orange County’s first purpose-built creative office campus, FLIGHT at Tustin Legacy consists of 870,000 square feet of Class-A creative office space with on-site food and beverage services and a host of amenities for its tenants.

“LPC West creates an unmatched synergy for Lincoln on the West Coast,” said Miller. “By merging our market leaders and operations into one united group, we are creating efficiencies that, combined with our on-the-ground knowledge, allow us to provide high-quality, thoughtful service to our clients in Orange County and beyond.”

Brig Black, who helped open Lincoln’s San Diego office in 2012, is being elevated to Executive Vice President for the San Diego region. Black recently led a repositioning of 600 B Street, a Class-A office tower in the heart of Downtown San Diego’s Financial Corridor. The premier office building is now home to prominent law firms, technology, and media companies, including The San Diego Union-Tribune.

“When it comes to leasing, acquisitions, and development, Lincoln’s West Coast team is very much enhanced by forming one consolidated group,” said Black. “We now have the ability to manage and combine our collective relationships and contacts, providing the best possible service in San Diego and other key markets up and down the coast.”

Lincoln veteran John Herr will be in charge of the company’s operations in San Francisco. Herr has been part of Lincoln’s western operations for 25 years and has led many successful deals, including the development of San Francisco’s 350 Bush Street and 500 Pine Street. 350 Bush is a 19-story, 372,000 square foot Class-A office tower that incorporates design elements of the famed San Francisco Mining Exchange building, including its historic terracotta façade panels and columns. Originally designed in the late 1990s, the building was repositioned to meet the demand for creative office space that accommodates tech-oriented tenants. 500 Pine is a 5-story, 56,000 square foot office/retail development in the heart of San Francisco’s financial district.

“As a united group with our collective entrepreneurial spirit, I’m confident that LPC West will continue on to many cutting-edge projects in each major market,” said Herr. “I’ve been with the company for a long time, and I believe this restructuring will make Lincoln’s West Coast presence stronger than ever.”

Executive Vice President Patrick Gilligan has moved from Lincoln’s San Francisco office, where he has served since 2006, to become market head of the Seattle-Portland area. As a graduate of the University of Oregon, Gilligan has close ties to the region.

Last year, Lincoln acquired the Pacwest Center in Portland’s largest commercial transaction of the year. Lincoln is currently leading a repositioning of the 30-story tower, located in the city’s central business district, by upgrading its lobby, common areas, and amenities.

“The Pacwest deal was an exciting transaction for us because it’s right in our wheelhouse,” said Gilligan. “It had been a troubled asset, and we felt that with the right investment, we could elevate the building to its former glory and meet the demand for modern office space with great amenities. We’re bullish on this marketplace, and I’m excited to lead Lincoln’s expansion in this area.”

Armed with its national resources, LPC West has developed deep ties with its local clients, brokers, and industry partners in each major West Coast market, making the group well positioned for a region-wide expansion.