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Portland’s Tupelo Alley Trades in $58M Transaction

Tupelo Alley, a mixed-use community with 188 apartments units and 10,000 square feet of retail in Portland’s North Mississippi Avenue neighborhood, has traded hands for $58 million. The buyer was a joint venture between Vancouver, WA-based Holland Partner Group and Pacific Life Insurance Company.

The asset is situated on 1.44 acres at 3850 N. Mississippi Ave., the retail center of the Boise-Elliot neighborhood. Completed in 2009, the three-building, LEED Gold-certified property includes ground-level retail and apartment units that feature a mix of studios, one and two-bedroom floorplans. The community includes indoor and outdoor gathering spaces for residents for activities such as billiards, ping-pong, barbequing and working out.

JLL’s Ira Virden and Carrie Kahn represented the seller, institutional investors advised by J.P. Morgan Asset Management, and procured the buyer. JLL’s Charles Halladay, Rick Salinas and Charlie Watson secured $37.7 million in acquisition financing for the new owners.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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