Pearl District Condo Building Lures Overseas Investor

A joint venture between Oakwood Worldwide and Mapletree Group has acquired a LEED Platinum certified building in Portland.
1155 NW Everett St., Portland

1155 NW Everett St., Portland

PORTLAND, Ore.—As part of its joint venture with Oakwood Worldwide of Los Angeles, Singapore-based Mapletree Group has acquired The Janey, a 112-unit apartment community in Portland’s booming Pearl District. The property located at 1155 NW Everett St. was rebranded into Oakwood Portland Pearl District and sold for $45 million in a deal brokered by Berkadia, The Oregonian reports.

Designed by GBD Architects, the six-story community benefits from its proximity to downtown Portland and the Portland International Airport. The property offers studio, one- and two-bedroom apartment units featuring concrete floors and countertops, stainless steel appliances and backsplashes and in-unit washers and dryers. Amenities at Oakwood Portland Pearl District include a gym, bicycle storage, rooftop lounge, yoga patio, barbecue area, covered parking and a stand-alone rental office. The apartment community has also earned LEED Platinum certification from the U.S. Green Building Council, for incorporating features such as solar shading on windows, mechanized parking matrix, vegetated roof planter, and an eco-roof that captures water.

“With Portland’s base of blue-chip companies, and its employment growth that has been outpacing the nation, Portland was the ideal location for an acquisition,” Mike Jara, West Coast acquisitions director for Oakwood, said in a statement. “Oakwood Portland Pearl District is in a fantastic spot within the city, nestled in the heart of downtown Portland in one of its most desirable neighborhoods, affording our guests all the conveniences and pleasures of city living.”

Image courtesy of The Janey Facebook page