JLL Capital Markets announced today that it has closed the sale of and arranged acquisition financing for Seven West at the Trails (“Seven West”), a 423-unit, garden-style multi-housing community in the Portland suburb of Beaverton, Oregon.
JLL marketed the property on behalf of the seller, a separate account managed by LaSalle Investment Management. Greystar Real Estate Partners LLC (“Greystar”), a global leader in the investment, development, and management of high-quality rental housing acquired the property. Additionally, working on behalf of the new owner, JLL secured the loan through a global financial institution.
Seven West comprises one-, two- and three-bedroom units averaging 821 square feet. Units feature stainless steel appliances, walk-in closets, balcony/patio and washer and dryers. The community offers a clubhouse, two outdoor pools, a 24-hour fitness center, dog park, playground and barbeque area.
Located at 14790 SW Scholls Ferry Rd., Seven West is within the Portland MSA near some of the areas largest employers, including Columbia Sportswear and Providence St. Vincent Medical Center. In addition, dozens of high-tech companies call the Beaverton-Hillsboro area home. Within a three-mile radius of the community, residents have access to over 6.1 million square feet of retail amenities including Washington Square Mall and Progress Ridge TownSquare. Residents also have access to outdoor recreational areas such as Summerlake City Park, Cooper Mountain Nature Park and Greenway Park.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Ira Virden, Senior Director Carrie Kahn and Associate Frank Solorzano.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Directors Charles Halladay and Andy Scott, Senior Director Jamie Kline and Analyst Charlie Vorsheck.
“Beaverton continues to be a preferred submarket amongst investors due to outstanding fundamentals fueled by the growth of top employers such as Nike, Intel and a plethora of growing technology and healthcare companies situated just minutes away. Seven West is a unique opportunity to acquire significant scale with a proven value-add component,” said Virden.