Jones Lang LaSalle Announces the Sale of Portland-Based Green Apartment Complex
The commercial real estate company has sold “The 20” to JP Morgan
On August 21, 2013, commercial real estate company Jones Lang LaSalle announced they have sold “The 20”-a Portland-based apartment complex-on behalf of Gerding Edlen LLC and investor Metzler Real Estate, according to a press release from Jones Lang LaSalle. The LEED gold certified property features 51 units spread throughout four stories, as well as 5,000 sq. ft. of retail space.
GBD Architects designed the property, which is located at 1550 SE 20th Avenue. Each unit features European-inspired designs, 9-foot ceilings and EnergyStar appliances. The property holds a vacancy rate of just 3 percent and the retail space on the ground floor is occupied by two restaurants and one office.
The apartment complex is located in the Hawthorne District of Portland and features both ZipCar service and tiered parking.