Orenco Station Portfolio
Orenco Station Portfolio
609-Unit TOD Portfolio in the Silicon Forest, Adjacent to Intel
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- Property Type
- Multifamily
- Deal Type
- Acquisition
- Risk Profile
- Core Plus
Jones Lang LaSalle (“JLL”), is pleased to present the opportunity to acquire Vector, Rowlock, and Hub 9 (the “Portfolio”), a combined 609-unit, suburban, transit-oriented multi-housing portfolio located in Washington County’s premier master-planned Orenco Station community. This unbeatable location in one of Portland’s most sought-after submarkets, Hillsboro, is often referred to as the Silicon Forest as it is home to more than 27,000 tech sector jobs. The three assets were built in 2016, offering opportunity to realize annual value-add premiums of over $730,800 annually with significant growth potential due to an expanding tech and manufacturing workforce.
The Portfolio is within walking distance to Intel (22,300 local jobs) and numerous other high-paying employers including tech, manufacturing, and healthcare which provide an affluent renter base with demand for modern finishes and resort-like amenities. The Portfolio feature's quality construction, yet provides the opportunity to capture additional yield through a light value-add program. Residents are welcomed with convenient access to excellent retail amenities including New Seasons, Whole Foods, Costco, and The Streets of Tanasbourne. Additionally, the nearest MAX Blue Light Rail station is just steps away, providing access to downtown Portland, downtown Hillsboro, the Portland International Airport, and numerous retail and employment centers throughout the MSA.
Vector, Rowlock, and Hub 9 present investors with an opportunity to deploy a significant amount of capital in one of the Portland MSA’s most desirable and fastest growing suburban submarkets, with direct transit access and exceptional renter profiles. The Portfolio’s high-quality construction, desirable floorplans, and resort-like amenities are popular with the affluent workforce at Intel and surrounding technology companies which make up a high concentration of the existing renter profile.
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OrencoStationPortfolio_CA.docx |