JLL Brokers Sale of Portland Luxury Community
- Jun 09, 2020
JLL Capital Markets has arranged the sale of Modera Davis, a 204-unit community in Portland, Ore. Senior Managing Director Ira Virden, Senior Director Carrie Kahn and Associate Frank Solorzano represented the seller, a joint venture between Mill Creek Residential Trust and their capital partner. Virtu Investments acquired the luxury asset. In December 2019, Virden and Kahn facilitated the $34 million sale of a 137-unit community in Beaverton, Ore.
Located at 215 NW 10th St., the newly built Modera Davis comprises units averaging 658 square feet, with features including private balconies, full-size washers and dryers, plank flooring and expansive windows. Common-area amenities include a fitness center, a rooftop deck with grilling area and fire pit, a sauna, a golf simulator and electric vehicle charging stations. The property also has 8,307 square feet of retail space and 136 parking stalls.
The 12-story Modera Davis is within the Pearl District, just off Interstate 405. The community is within walking distance of Union Station and 1 mile from downtown Portland.