91Ƶ

North Portland mixed-use building fetches $28M

By: Chuck Slothower//September 28, 2018//

North Portland mixed-use building fetches $28M

Chuck Slothower//September 28, 2018//

Listen to this article
The Wilmore, a five-story apartment building on North Williams Avenue, has sold to a California-based limited liability company for $28 million. (Courtesy of CBRE)
The Wilmore, a five-story apartment building on North Williams Avenue, has sold to a California-based limited liability company for $28 million. (Courtesy of )

The Wilmore, a five-story apartment building in Portland’s Humboldt neighborhood, has sold to an investor for $28 million two years after the project’s completion.

The 75-unit building at 4357 N. Williams Ave. sold to a limited liability company, MSL Vancouver Oregon Investments, which lists a principal place of business in Mountain View, California.

The seller was N Williams Avenue Apartments, another limited liability company connected to the original developer, of Wilsonville.

The building includes 50,720 square feet of residential space and 5,760 square feet of retail space. It was designed by .

Phil Oester, Joe Nydahl and Josh McDonald of CBRE‘s Portland office represented the seller.

“The Wilmore is a generational asset in Portland’s burgeoning North Williams neighborhood,” Oester, CBRE senior vice president, stated in a news release. “The community’s contemporary features, amenities and finishes are complemented by its incredible location and popular ground-floor retail.”

The retail tenants are Rovente Pizzeria, Open Tandoor and Coco Donuts.

The Wilmore – a combination of Williams and Skidmore – was built with the help of Portland’s Multiple-Unit Limited Tax Exemption () program, providing 20 percent affordable units at 60 percent of area median income in exchange for a 10-year property tax exemption.



News

See All News

Commentary

See All Commentary

COMMUNITY CALENDAR