WILSONVILLE, OR—HFF has closed the sale of Jory Trail at the Grove, a 324-unit, class A, garden-style multifamily community in Wilsonville, a suburb south of Portland.

HFF worked on behalf of the seller, a partnership between Holland Partner Group and The Carlyle Group, Inc.

M&C Properties of Salt Lake City, purchased the asset for $59 million. Additionally, HFF worked on behalf of the new owners to secure a $44.25 million fixed-rate loan through Freddie Mac's (Federal Home Loan Mortgage Corporation) CME Program.  The securitized loan will be serviced by HFF through its Freddie Mac Program Plus seller/servicer program. 

Jory Trail at the Grove is situated on 21.25 acres at 8750 Southwest Ash Meadows Road adjacent to Interstate 5 in Wilsonville and less than 20 miles south of downtown Portland.  The property is located within the master-planned community The Grove and within walking distance of tech and manufacturing companies, including Xerox, Mentor Graphics, Fir Systems and Rockwell Collins.  Completed in 2012, the 94% leased property features walking trails, Wi-Fi access in all units and public spaces, a 24-hour fitness center, pool and sundeck with heated hydrotherapy spa. 

The HFF investment sales team was led by managing director Ira Virden and associate director Kerry Hughes.

The HFF debt placement team was led by managing directors Charles Halladay and Tom Wilson and analysts Sebastian Trujillo and Charlie Watson.

Founded in 2001, Holland Partner Group based in Vancouver, WA. is a fully-integrated real estate investment company. The Carlyle Group is a global alternative asset manager with $203 billion of assets under management across 129 funds and 141 fund of funds vehicles as of September 30, 2014.