Marcus & Millichap Brokers Eugene Student Housing Sale
Real estate brokerage firm Marcus & Millichap has arranged the sale of Ducks Village, a 230-unit, 650-bed University of Oregon student housing asset in Eugene, OR. The firm represented the seller, a limited liability company in the transaction for an undisclosed price.
“This is a well-timed investment as the University of Oregon welcomed its largest-ever freshman class in 2021,” said Marcus & Millichap’s Joel Dumes, who along with Patrick Mullowney also procured the unnamed buyer.
“The purchase gives our buyer the opportunity to continue the interior unit renovation and take advantage of the property’s upside potential,” added Mullowney. “Additionally, apartment rents in Eugene have increased by over 56% in the past decade and seen 9.6% rent growth year-over-year.”
Ducks Village is a 22-building complex located adjacent to U of O. Community amenities include a recently renovated clubhouse, resort-style swimming pool, fire pits, fitness center, basketball courts and tanning booth.