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Barings Divests Portland Transit-Oriented Residential Tower for $116M
Barings sold Riva on the Park, a 294-unit, transit-oriented residential high-rise in Portland, to Colorado-based Griffis Residential for $116.13 million. The property is located adjacent to the Oregon Health & Science University (“OHSU”) in Portland’s South Waterfront neighborhood.
The high-rise is within steps of the Portland Streetcar, MAX Light Rail and the Portland Aerial Tram. The 22-story, LEED Gold-certified property’s units average 811 square feet, and it includes more than 13,000 square feet of ground-floor retail.
Apartment amenities include granite countertops and plank flooring in kitchens, oversized, energy-efficient windows, full-size washers and dryers, central heat and air conditioning and decks or patios. Common area amenities include a lobby with fireside lounge, eco-terrace with grills, 24-hour fitness center and concierge services.
JLL’s Ira Virden and Carrie Kahn represented the seller, on behalf of institutional investors, and procured the buyer. The property was acquired free and clear of existing financing.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


