Multi-housing community trades for $30.25M in Portland area
JLL Capital Markets closed the sale of Hidden Village in West Linn, OR
PORTLAND, ORE. – Oct. 13, 2021 – JLL Capital Markets announced today that it has closed the $30.25 million sale of Hidden Village, a 98-unit, garden-style multi-housing community in West Linn, Oregon.
JLL marketed the property on behalf of the seller, Guardian Real Estate Services LLC. FPA Multifamily acquired the property.
Hidden Village comprises one- and two-bedroom flats and two-bedroom townhomes averaging 848 square feet. Units feature stainless steel appliances, fireplaces, upgraded LED lighting, balcony/patio with storage and vaulted ceilings. The community offers a clubhouse, pool, spa, fitness center, covered parking and detached garages.
Situated at 40010 Robin Pl., Hidden Village is surrounded by a host of expanding manufacturing, educational and healthcare companies, including Clackamas Community College, PCC and Blount. The property’s location connects residents to major transportation arterials granting access to downtown Portland in 25 minutes. Residents have access to 4.8 million square feet of retail within a three-mile radius of the property, such as Cascade Summit Town Square, Oregon City Shopping Center and downtown Lake Oswego.
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.
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 and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Guardian Real Estate Management LLC
Based in the Pacific Northwest, Guardian Real Estate Services is a leading multifamily management, development, and investment firm. Defined by our deep commitment to the communities in which we invest, Guardian continues to advocate for housing across the entire spectrum. Since 2002, Guardian has developed or acquired 11,000 multifamily units and 350,000 square feet of commercial space. With more than 350 employees, Guardian’s management portfolio consists of approximately 130 communities with more than 8,500 units across four states. For more information, visit gres.com.
About FPA Multifamily
FPA Multifamily, LLC is a real estate operating company focused on the acquisition, renovation and management of both core plus and work force housing apartment communities. Founded in 1985, FPA has owned over 130,000 apartment units valued at over $16.4 billion. FPA is currently investing through its value-add focused FPA Apartment Opportunity Fund VII which will acquire approximately $3.0 billion of assets and its core-plus focused FPA Core Plus Fund V which will acquire approximately $1.9 billion of assets. Headquartered in San Francisco, FPA also has offices in Atlanta, Chicago, Dallas, Denver, Irvine, Minneapolis, and Washington DC. For more information, please visit www.fpamf.com.