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JLL Arranges Financing for Portland’s Block 40
JLL Capital Markets arranged construction financing for the development of Block 40, a 232-unit, luxury multi-housing project in Portland’s South Waterfront neighborhood. Alamo Manhattan is developing Block 40 on a 1.06-acre site at 3838 SW Macadam Ave., south of Portland’s CBD.
Due for completion in late 2021, the property will consist of a seven-and eight-story podium-style building with studio, one and two-bedroom units averaging 724 square feet, roughly 6,500 square feet of ground-floor retail and 174 parking spaces.
The transit-oriented development is also next to Oregon Health & Science University, which is currently undergoing a 1.1-million-square-foot expansion, and steps from the Portland Streetcar, MAX Light Rail and the OHSU Aerial Tram.
JLL’s Mark Erland, Matt Benson and Charlie Watson handled the transaction. The JLL team previously worked on the developer’s behalf to arrange joint venture equity for the project, which was announced in October 2019.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development
