JLL secures $40.5M refinancing for Portland's Lloyd District multifamily gem amid Pacific Northwest investment surge

SAN DIEGO, Aug. 10, 2026 –  JLL Capital Markets announced today that it has secured a $40.5 million refinancing for The Payton, a 162-unit Class A+ multifamily property in Portland, Oregon.

JLL represented the borrower, ColRich, in arranging the five-year (including extensions), floating-rate loan through Prime Finance.

The Payton, located at 2020 NE Multnomah St., is a seven-story mid-rise community built in 2019 with condominium-quality finishes. The property sits at the confluence of Portland's Central Eastside and Lloyd District, two of the metro area's most centralized urban submarkets, with over five million square feet of retail within one mile. The location offers residents direct access to major employment centers via the MAX Light Rail, including Intel's 21,400-employee campus, Nike's 15,100-employee World Headquarters, OHSU's 19,600-employee medical complex and the top-ranked airport in the United States, Portland International Airport.

Portland is recognized as the #1 Cleanest City and #3 Best Place to Live on the West Coast, with a strong employment base supported by 55% of residents holding a bachelor’s degree or higher. Portland continues to benefit from transformative economic investment, including Nike's $1 billion campus expansion, Intel's $1.86 billion in federal CHIPS funding and OHSU's record $2 billion Knight donation.

The Payton features premium amenities including quartz countertops, stainless steel appliances, engineered hardwood flooring, full-size in-unit washers and dryers, and smart home technology. Community amenities include a 24-hour fitness center, bicycle storage, two outdoor decks with grilling areas, a clubhouse, wine lockers, electric car charging stations and underground parking. The property maintains 98% occupancy as of August 2026.

JLL Capital Market’s Debt Advisory team was led by Senior Managing Director Aldon Cole, Managing Director Jimmy Conley, Directors Brock Knapp and Sean O’Brien, and Analysts Ben Choromanski and Matthew Payamps.

"The successful refinancing of The Payton demonstrates the positive momentum in Portland's multifamily market and the quality of ColRich's long-term ownership strategy," said Cole. "This property's strategic location in the Lloyd District, combined with its condominium-grade finishes and strong occupancy, make it a standout asset in the Pacific Northwest."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

ColRich, a vertically integrated investment firm based in San Diego, owns nearly 21,000 units across nine states. The company currently owns 11 assets totaling 1,944 units in the Portland metro area, demonstrating over 20 years of experience in the market. Since acquiring The Payton in August 2021, ColRich has invested approximately $1.5 million in capital improvements, including interior unit renovations, enhanced site lighting and access control, building corridor upgrades and fitness center enhancements.