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$30M Sale Closed for Suburban Portland Apartment Property
JLL has arranged the $29.85 million sale of Cedar Square, a 155-unit garden-style apartment community in Beaverton, Oregon.
JLL worked on behalf of the seller, a local owner. JLL represented the buyer, a joint venture between Glencrest Group and Sky Alps Capital, in arranging an acquisition loan. Cedar Square is the eighth acquisition Glencrest Group has sponsored in the Portland Metropolitan Area.
JLL Capital Market’s Investment Sales and Advisory team was led by Senior Managing Director Ira Virden, Managing Director Carrie Kahn and Associate Owen Wise. JLL’s Debt Advisory team was spearheaded by Charles Halladay and Jonah Aelyon.
Built in 1980 with additions completed in 2016 and 2024, Cedar Square offers residents large floor plans averaging 853 square feet, with patios or balconies on every unit. The property features one-, two-, and three-bedroom apartments. Current ownership has completed significant capital improvements, including repaving and replacing siding, windows, decks, and roofs on the majority of buildings.
