PORTLAND—JLL Income Property Trust, an institutionally managed, daily valued perpetual life recently revealed the acquisition of Jory Trail at the Grove, a premier 324-unit apartment complex that is 95% leased. The class A apartment property is located in the Portland, OR suburb of Wilsonville. The purchase price was approximately $75 million. Wilsonville is a thriving suburb of Portland that features a robust apartment market, low market vacancy and no multifamily units under construction or planned in the submarket. The suburb is located along the I-5, providing access to some of greater Portland's major employment centers and is home to Xerox, Mentor Graphics, Rockwell Collins and Tyco.

PORTLAND, OR—Security Properties acquired the Commons and 5819 Glisan, two apartment complexes in Portland, OR comprised of 172 and 56 units respectively. The Commons is a 5-story mid-rise affordable housing property that serves the 55+ community in eastern Portland. The property was originally constructed in 1999 utilizing 4% Low Income Housing Tax Credits and rents to seniors with incomes below 60% of area median income. 5819 Glisan is a five-story mid-rise market rate property also constructed in 1999. These properties comprise two of the four housing developments in the mixed-income Center Commons development, which also includes Center Village, a housing community serving low-income families, and for-sale townhouses. With excellent proximity to the MAX rail system, these properties are very well connected to the greater Portland area.

Below is GlobeSt.com's bi-weekly update on the middle markets throughout the North West region. Here's a look at the latest news, announcements and deals that you may have missed from areas including: Alaska, Washington, Oregon, Idaho, and Northern California.

NEWS & NOTABLES

PALO ALTO, CA—Bill Roberts has joined Cushman & Wakefield's Global Occupier Services organization to help lead a new Strategic Client Development program within the firm. Working out of the Palo Alto office, Roberts will play a critical role within the Cushman & Wakefield GOS organization working to deepen existing relationships and act as trusted advisors focused on bringing value-added ideas to our clients, working in partnership with other parts of the Cushman & Wakefield platform. Roberts will be teaming up with Cushman & Wakefield's Clifford Radosevic to lead this Strategic Client Development program for top clients in North and South America. Roberts joins Cushman & Wakefield from Hewlett Packard Enterprise, where he served as Vice President, Real Estate Strategy and Transformation.

SAN FRANCISCO—CoreNet Global Northern California Chapter, the world's premier professional association for corporate real estate executives and workplace professionals, has named Cushman & Wakefield Global President, Client Solutions Michael Casolo as Service Provider of the Year. The award recognizes individuals whose performance and client interactions provide a uniquely valued experience to those with whom they work and evidences actions that transcend the expected. Casolo is leading Cushman & Wakefield's Client Solutions team across the globe, enhancing and optimizing real estate service delivery to provide the very best customer experience across industries and geographies. He is a contributing author to several industry publications, and vigorously promotes the practice of local real estate locally and through the CoreNet Global Board. In the past, Michael has served the Chapter as Director, EVP and President and currently sits on CoreNet's Global Board.

DEALTRACKER

BELLEVUE, WA—Hunt Mortgage Group, a leader in financing commercial real estate throughout the US, has partnered with Freddie Mac to refinance a mixed-use property located in Bellevue, WA, within the Seattle MSA. The loan provided by Hunt Mortgage Group was in the amount of $44 million. Soma Tower Phase II is a high-rise class A mixed-use property situated on 0.44 acres of land. The property has 125-units and is comprised of one, 18-story building containing 15 stories of residential over three stories of commercial space. Soma Towers also offers 369 parking spaces in a subterranean parking garage. The borrower is Soma Towers DE LLC, a Delaware Limited Liability Co. who developed the property in 2016. The loan is backed by key principals John and Shiang Wen Su. The loan has an eight-year term.

PORTLAND—JLL Income Property Trust, an institutionally managed, daily valued perpetual life recently revealed the acquisition of Jory Trail at the Grove, a premier 324-unit apartment complex that is 95% leased. The class A apartment property is located in the Portland, OR suburb of Wilsonville. The purchase price was approximately $75 million. Wilsonville is a thriving suburb of Portland that features a robust apartment market, low market vacancy and no multifamily units under construction or planned in the submarket. The suburb is located along the I-5, providing access to some of greater Portland's major employment centers and is home to Xerox, Mentor Graphics, Rockwell Collins and Tyco.

PORTLAND, OR—Security Properties acquired the Commons and 5819 Glisan, two apartment complexes in Portland, OR comprised of 172 and 56 units respectively. The Commons is a 5-story mid-rise affordable housing property that serves the 55+ community in eastern Portland. The property was originally constructed in 1999 utilizing 4% Low Income Housing Tax Credits and rents to seniors with incomes below 60% of area median income. 5819 Glisan is a five-story mid-rise market rate property also constructed in 1999. These properties comprise two of the four housing developments in the mixed-income Center Commons development, which also includes Center Village, a housing community serving low-income families, and for-sale townhouses. With excellent proximity to the MAX rail system, these properties are very well connected to the greater Portland area.