Seattle & Northwest + Portland + Finance | May 25, 2022

New Portland Data Center Acquires Refinancing

JLL Capital Markets has announced that it has arranged a refinancing of a state-of-the-art data facility in the Portland-area community of Hillsboro, OR. JLL represented the borrower, a joint venture between Legacy Investing, LLC and Invesco Real Estate.

Located at 5419 NE Starr Blvd. and completed just last year, the 358,000-square-foot Tier III data center spans nearly 20 acres and is leased to Flexential, a leading data center operator. The JLL Debt Placement team of Alex Witt, John Rose, Carl Beardsley, Zane Coffman and Auden Menke secured the seven-year, fixed-rate, non-recourse loan with a life company.

Hillsboro is one of the most attractive data center markets in the U.S. due to its proximity to Silicon Valley and property tax abatement program. In addition, the market offers 100% renewable energy options for power generation, offering cheaper and more competitive costs than other markets.

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About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.