Lake Oswego Multifamily Property Changes Hands for $124M

CBRE has arranged the $124 million sale of One Jefferson, a 347-unit multifamily community in the Portland submarket of Lake Oswego, OR. The firm’s Josh McDonald, Joe Nydahl and Phil Oester represented a JV associated with Security Properties who sold the complex to an undisclosed buyer. 

“As an affluent community and top destination for the Metro’s high earners, Lake Oswego is a sought-after market for multifamily investors, but with a significant barrier to entry. Only one commercial land transaction of scale has sold since 2017,” said McDonald in a news release.

One Jefferson is a garden-style community, comprised of 58 three-story buildings, with units ranging from studio to five-bedroom layouts, averaging 1,050 square feet. Recent renovations modernized 86% of the units with stainless steel appliances, granite countertops and updated fixtures. Community amenities include a pool, spa, fitness center, outdoor lounge and sundeck.