JLL closes sale and financing of Courtyard Portland Clackamas
Strategic location proximate to numerous leisure, healthcare and military demand drivers
JLL represented the institutional seller, and procured the buyer, McMillin, LLC. Additionally, JLL worked on behalf of the buyer to secure the 10-year, fixed-rate acquisition loan through an insurance company lender.
The Courtyard Portland Clackamas is located at 9300 SE Sunnybrook Boulevard approximately 11 miles southeast of Downtown Portland. The select-service hotel is positioned along the western edge of Interstate 206 and Sunnybrook Boulevard, one of the city’s main arteries, and benefits from its proximity to multiple demand generators, including the Kaiser Permanent Sunnyside Medical Center, Clackamas Town Center and Camp Withycombe, which serves as one of the National Guard’s largest training facilities. Renovated in 2016, the property consists of one four-story building with 136 rooms and suites. Hotel amenities include three meetings rooms, an on-site Bistro, indoor swimming pool and whirlpool, fitness center, business center, a 24-hour sundry shop and a boarding pass station.
The JLL team was led by Senior Managing Directors Scott Hall and Tim Wright, Managing Director Casey Davidson, Senior Director Nick Kassab and Associates Aaron Lapping and Blake Malecha.
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Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
About McMillin, LLC
Founded in 1960, McMillin has more than 50 years of successful real estate investments, including land development of 16 mixed-use master-planned communities, 30,000 homes, 20 community parks, in addition to schools, shopping centers, commercial office real estate and more. McMillin, LLC is the third-generation predecessor company of McMillin Companies led by principals Scott and Andy McMillin who have reimagined the company’s brand, vision and project motives going into the 21st century. Visit mcmillin.com for more information.