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Mill Creek Divests Newly-Built Portland Pearl District MF Tower to California Investor
Larkspur, CA-based Virtú Investments acquired Modera Davis, a 204-unit, luxury high-end residential community located in Portland’s Pearl District. JLL marketed the property exclusively on behalf of the seller, a joint venture between Mill Creek Residential Trust LLC and an unnamed capital partner.
The asset is located at 215 NW 10th St., and was sold prior to receiving a temporary certificate of occupancy. The newly-built, 12-story property features units averaging 658 square feet, and offers 8,307 square feet of retail and 136 parking stalls.
Units have private balconies and high-end finishes, including quartz countertops and backsplashes, stainless steel appliances, wine refrigerators, modern slab panel cabinetry, plank flooring, expansive windows and full-size washers and dryers. Community amenities feature a top-floor fitness center, rooftop deck with grilling area and fire pit, sauna with rock salt wall, sensory deprivation float spa chamber, golf simulator, demonstration kitchen and electric vehicle charging stations.
JLL’s Ira Virden, Carrie Kahn and Associate Frank Solorzano represented the seller.
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For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
