The latest news of interest to multifamily owners of apartment buildings in Oregon and Washington.
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Thursday, August 30, 2018
Sold! 70 Units in Corvallis, Oregon
Santana Court is located adjacent to Oregon State University. The resident profile is predominately students due to its location, but the asset was rented as market-rate by the unit—not by the bedroom. The sellers had completed extensive interior and exterior updates throughout the property over the previous 10 years. Updates included a new roof, exterior paint, railings, and seal coat. Santana Court’s owners of the prior 30 years decided to sell off their multifamily holdings. The asset was offered for sale with a sister property—the Arcade Apartments. HFO managed the process by seeking out investors with interest in the Corvallis area and owners of student housing throughout the nation. Our extensive relationships with financially qualified investors enabled us to locate a motivated and well-qualified buyer eager to acquire assets in Corvallis.