HAPPY VALLEY, ORE. — Cobalt has completed the disposition of Sonder Fields, a 180-unit community located at 14798 SE Parklane Drive in Happy Valley, roughly nine miles southeast of Portland, Oregon. An undisclosed buyer purchased the asset for $58.2 million.
Sonder Fields was built in 2023. Spanning 10 acres, the community includes one-, two- and three-bedroom units with an average size of 972 square feet. Amenities include a pool with hot tub, fitness center, dog park, clubhouse lounge, barbeque picnic areas and coworking spaces.
Ira Virden, Carrie Kahn and Frank Solorzano led the JLL Capital Markets investment and sales advisory team that represented the seller in the transaction. Cobalt is a developer based in Tualatin, Oregon, a southwestern suburb of Portland.