$83M Sale of Oregon Multifamily Assets Brokered by Institutional Property Advisors

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of two Oregon multifamily assets, which traded for a total of $83 million.

The transactions included Oak Vale, a 257-unit property in Corvallis, and the 181-unit Anjou Club in Talent. “The quality of construction and maintenance of these two properties attracts and retains the most discerning renters, and previous ownership was meticulous in their upkeep and reinvestment,” said Anthony Palladino, IPA senior director of investments.

Palladino, Philip Assouad, Giovanni Napoli, Ryan Harmon, and Nick Ruggiero of IPA, in association with David Tabata, Marcus & Millichap’s broker of record in Oregon, represented the seller, Bender Equities, and procured the buyer, Verdant Development. Oak Vale is a 31-building property situated on more than 16 acres. Anjou Club was completed in 1990 and spans nearly 14 acres.

“These transactions demonstrate the depth of capital seeking opportunities in established Pacific Northwest markets and investors’ continued confidence in the long-term performance of the multifamily sector,” said Andrew Leahy, national director of IPA Multifamily.

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