July 24, 2017
Early Bird Alert: Connect Apartments is planned for September 28th in Los Angeles. Here’s where to get more information and register.
JLL Income Property Trust acquired Jory Trail at the Grove, a premier 324-unit apartment complex in Wilsonville, OR, a suburb south of Portland. The 95%-leased Class A asset was sold by Millburn & Company for roughly $75 million.
“Jory Trail is our first multifamily acquisition in the Pacific Northwest, and we continue to focus our apartment investment strategy on submarkets that showcase stability, growth and have high barriers to entry,” says JLL Income Property Trust’s Allan Swaringen.
It is the investors’ ninth apartment sector investment, and brings its aggregate apartment allocation to nearly $600 million, representing 25% of its overall property portfolio by valuation. HFF handled the sale.
The property is conveniently located along Interstate 5, providing access to some of greater Portland’s major employment centers. It is home to Xerox, Mentor Graphics, Rockwell Collins and Tyco.
For comments, questions or concerns, please contact Dennis Kaiser