JLL has closed the sale of Willow, a 158-unit luxury multifamily community in Lake Oswego, Oregon, marking a trade for one of the area’s newer Class A rental assets.
JLL Capital Markets’ Investment Sales and Advisory team represented the seller in the transaction and also procured the buyer. The brokerage team was led by Senior Managing Director Ira Virden and Managing Director Carrie Kahn, who oversaw marketing and negotiations on behalf of the ownership.
Completed in 2024, Willow is a modern five-story residential building that delivers a range of high-end rental options. The community includes one-, two- and three-bedroom traditional apartment units, two-bedroom townhome-style units and one-, two- and three-bedroom penthouse units, offering a mix of floor plans designed to appeal to a broad renter base.
The property is located at 5600 Meadows Road in Lake Oswego and occupies a 5.16-acre site in what is described as one of the region’s premier submarkets. Its scale and configuration position Willow as a sizable, single-asset multifamily investment within a predominantly suburban setting, with the 2024 completion date underscoring its relatively new construction.
Willow sits within the Kruse Way office corridor, a major employment hub that contains more than 2.9 million square feet of office space and approximately 20,000 employees. The corridor is home to a range of corporate users, including Columbia Bank, Liberty Mutual, Hoffman Construction and HP, creating a strong daytime population and a built-in base of potential renters seeking proximity to work.
The location also offers regional connectivity, with Willow situated a short drive from Downtown Portland and Portland International Airport. This combination of suburban setting, employment concentration and access to the broader Portland area supports the property’s positioning as a luxury multifamily option for residents who commute to nearby office centers or into the urban core.
