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3/15/24
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Creekview Crossing, a 183-unit, garden-style community located in the Portland, OR suburb of Sherwood, was acquired by a fund managed by LaSalle Investment Management. The price was not disclosed.
Built in 2009, Creekview Crossing offers spacious one-, two- and three-bedroom floorplans with attached garages, nine-foot ceilings, granite countertops and central HVAC, as well as community amenities, including a 24-hour fitness center, a playground, a pool and picnic tables. As part of the transaction, the buyer assumed the below-market financing.
Situated at 21759 SW Cedar Brook Way, Creekview Crossing is positioned less than 25 minutes from downtown Portland. The property’s location offers residents exceptional transit connectivity with the proximate Highway 99, SW Tualatin-Sherwood Road, and Interstate 5, allowing access to the region’s top retail destinations, employers and Sherwood’s highly regarded school district. Nearby employment hubs include the 15-million-square-foot Tualatin-Sherwood Industrial Hub, the Legacy Meridian Park Medical Center, LAM Research, Willamette Valley Wine Country, Providence Sherwood and Tonquin Employment Area.
Ira Virden, Carrie Kahn and Frank Solorzano with JLL Capital Markets represented the seller and procured the buyer in the deal.
“This is another example of institutional buyers still being very interested in the Portland market. We had excellent interest in the offering and continue to see a tremendous amount of capital looking at Portland,” said Virden.
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