Waterton – Daily Journal of Commerce /news/tag/waterton/ Building and Construction News in Portland, Oregon and the Pacific Northwest Wed, 08 Aug 2018 17:09:23 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.6 /files/2023/08/favicon.webp Waterton – Daily Journal of Commerce /news/tag/waterton/ 32 32 Lloyd mixed-use complex fetches $66 million /news/2018/08/07/lloyd-mixed-use-complex-fetches-66-million/ Wed, 08 Aug 2018 01:07:07 +0000 /?p=178394 MG Properties Group, a San Diego-based real estate company that develops, acquires and manages multifamily properties, has purchased Axcess 15, a mixed-use complex with 202 apartments, for $66 million.

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The 202-unit Axcess 15 apartment building in the Lloyd area has sold for $66 million. (Courtesy of MG Properties Group)
The 202-unit apartment building in the Lloyd area has sold for $66 million. (Courtesy of )

Axcess 15, a mixed-use property with 202 apartments in Portland’s Lloyd area, has sold for $66 million.

The buyer was MG Properties Group, a San Diego-based real estate company that develops, acquires and manages multifamily properties.

Holliday Fenoglio Fowler () represented the seller, , a Chicago-based real estate investment firm, and attracted the buyer. HFF also helped secure a loan through Freddie Mac’s Capital Markets Execution program.

Axcess 15, at 1500 N.E. 15th Ave., is near the Lloyd Center mall and other amenities. The four- and five-story property includes a mix of one- and two-bedroom apartments averaging 851 square feet. The property also has 18,000 square feet of ground-floor retail space, which is fully leased.

Axcess 15 last traded in 2012, when Holland Partners sold the property to Waterton for $48.63 million. The mid-rise development was built in 1990.

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