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August 29, 2013
Seattle-based Metzler Real Estate and Portland-based Gerding Edlen said they sold a 51-unit apartment building called 20 on Hawthorne at 1550 S.E. 20th Ave. in Portland. The buyer was J.P. Morgan and it paid $14.95 million. Jones Lang LaSalle Managing Director David Young, Senior Vice Presidents Seth Heikkila and Corey Marx, and Vice President Joe Nydahl represented the seller. The building has 5,000 square feet of retail leased to a cafe, sushi restaurant and dentist office. It was designed by GBD Architects and built by Lorentz Bruun Construction. Metzler is an investment advisor for private and institutional groups looking for property in North America.