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Seattle & Northwest  + Pacific Northwest  + Apartments  | 
CBRE Arranges $31M Acquisition Financing for Multifamily Community in Bend OR

Bend Multifamily Property Secures $31M in Acquisition Financing

CBRE has arranged $31 million in financing for the $49.5 million acquisition of Sienna Pointe Apartments, a 168-unit multifamily community in Bend, OR. The firm’s Nick Santangelo of CBRE Capital Markets’ Debt and Structured Finance secured the seven-year, fixed-rate, interest-only loan on behalf of the buyer, Seattle-based Security Properties.

“Bend continues to be one of our highest conviction markets due to its compelling combination of affordability and overall quality of life,” said Security Properties’ Alex Gauper. “The addition of Sienna Pointe will combine well with our existing market footprint, and we look forward to executing on our value-add business plan as Bend continues to grow.”

The garden-style community sits on 10-acres and comprises 21 buildings with one- and two-bedroom units average 845 square feet. Community amenities include a fitness center, pet play area and clubhouse. The property is located within a 10-minute drive of St. Charles Medical Center, the metro’s largest employer.

HFO Investment Real Estate’s Rob Marton represented the seller, Bend Housing, LLC, in the transaction.

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CBRE Nick SantangeloSecurity PropertiesAlex GauperHFO Investment Real Estate

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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