PORTLAND, ORE. — NBP Capital has sold Meadowlands Apartments in Portland to Glencrest Group for $26.9 million. JLL Capital Markets brokered the sale, representing the seller in the deal, and arranged a 10-year, fixed-rate Freddie Mac loan for Glencrest Group.
The 168-unit, garden-style community will be rebranded as Township Eastside. The property was built in 1991 and includes two-bedroom units with in-unit washers and dryers and a patio or balcony. Community amenities include a clubhouse, a pool and a playground.
The JLL Investment Sales and Advisory team representing the seller was led by Ira Virden, Carrie Kahn and Frank Solorzano. The JLL Debt Advisory team representing the buyer included Charles Halladay, Peter Smyslowski, Jonah Aelyon and Elijah Lax.