JLL Secures $169.7 Million Financing for Portland Luxury Residential Communities
JLL has successfully secured $169.7 million in financing for two luxury multi-housing communities in Portland, Oregon—Willamette Tower and The Olivia.
The financing was arranged on behalf of the borrower, a partnership between Alamo Manhattan and Diamond Realty Investments. The three-year bridge loan was provided by TPG Real Estate Credit, the real estate finance division of global investment firm TPG. JLL’s Debt Advisory team was led by Director Charlie Watson and Senior Managing Director Casey Davidson.
Willamette Tower, completed in 2024, is a newly built luxury high-rise featuring 340 residential units and 3,777 square feet of commercial space. The Olivia, completed in 2023, offers 232 residential units in a podium-style structure, along with 10,673 square feet of commercial space.
“Willamette Tower and The Olivia are two of Portland’s top-tier assets, poised for long-term rental growth and success, particularly due to the lack of multi-housing deliveries the city is anticipated to see in the next few years,” said Charlie Watson.
The successful financing arrangement supports the continued development and operation of high-end residential communities in a market facing limited new housing supply.
