First Multifamily Built in Slabtown, LL Hawkins, Trades in Portland

LL Hawkins, a 113-unit LEED Gold multifamily property with ground-floor retail, and the adjacent Slabtown Marketplace, a 36,0000-square-foot retail building in the Slabtown submarket of Portland, OR recently sold to an undisclosed buyer. Both properties were purchased from Portland-based developers Capstone Partners LLC and Cairn Pacific LLC along with a global institutional real estate adviser/equity provider.

CBRE’s Joe Nydahl, Phil Oester, Josh McDonald, Philip Voorhees, Jimmy Slusher and Joseph Blatner represented the seller in the transaction. The purchase price was undisclosed.

“LL Hawkins was the first multifamily property built in Slabtown and truly compliments one of the most desired locations within Portland,” said Nydahl. “LL Hawkins is one of the highest-quality projects to trade in the Portland market, featuring desirable ground-floor retail as well as a pedestrian thoroughfare connecting Slabtown Marketplace, offering residents convenient access to high-quality retail including New Seasons Market.”

The Capstone Partners and Cairn Pacific team completed the six-story mixed-use LL Hawkins apartment building in 2015. It is comprised of studio, one- and two-bedroom floorplans with 11,087 square feet of ground-level retail.