PORTLAND, OR—Holliday Fenoglio Fowler, L.P. says that it has closed the $47.75 million sale of The Cordelia, a 135-unit, two-building multi-housing property in Portland's Alphabet District.
HFF marketed the asset on behalf of Mill Creek Residential Trust and its capital partner.
The Cordelia is located at 777 NW 19th Avenue between Portland's Pearl District and the NW 23rd Avenue retail corridor. The transit-oriented asset is situated two blocks from a Portland streetcar stop, less than one half of a mile from Interstate 405 and provides access to multiple retail, dining and entertainment options within walking/biking distance. Completed in 2014, the LEED Gold property has studio, one- and two-bedroom units averaging 667 square feet each. Property amenities include a common area with kitchen and theater lounge, bike storage and repair station, dog wash and grooming station, 24-hour fitness center, outdoor barbecue and picnic area and a 62-space subterranean parking garage.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
