Dock 59

JLL Capital Markets is pleased to present Dock 59 (the “Property”), a 58-unit new construction podium asset in the Pearl District, one of Portland’s most highly sought-after neighborhoods. Situated off NW 13th Street, the Property is positioned within a dense retail hub boasting 5.4 million square feet of retail space within a one-mile radius. The prime location is further distinguished by a walk and bike score of 98 as a result of being centrally located in a district that provides many retail amenities conducive to the ultimate live-work-play experience. The Property offers accretive assumable financing through HUD at a 3.88% rate, which is significantly lower than what is offered under current market conditions. Dock 59 was built to HUD’s high-quality construction standards, and also benefits from being one of the last multifamily assets built in Portland that was developed prior to Portland’s inclusionary housing ordinance, providing investors with a new construction asset with no affordability requirements.

Positioned in one of Portland’s most dense employer hubs, the Property provides residents with access to Portland’s largest employers in the Pearl District, CBD, South Waterfront, and proximity to I-405 with access to West Portland’s technology and footwear & apparel companies, attracting the highly-affluent renter demographic to the Property.