Institutional Property Advisors Brokers $83 Million Sale of Two Oregon Multifamily Assets
Institutional Property Advisors (IPA), a division of Marcus & Millichap focused on serving institutional clients, has announced the sale of two multifamily properties in Oregon for a combined $83 million. The transactions involved Oak Vale, a 257-unit apartment community in Corvallis, and Anjou Club, a 181-unit multifamily property in Talent.
The transactions highlight continued investor interest in well-established multifamily communities located in Pacific Northwest markets with strong long-term fundamentals. Both properties feature established residential communities, extensive amenities and convenient access to major educational and employment centers.
Anthony Palladino, senior director of investments at IPA, said the quality of construction and maintenance at both properties has helped attract and retain renters. He noted that the previous ownership maintained the communities carefully and continued to reinvest in the assets.
According to Palladino, Corvallis has remained one of Oregon’s strongest apartment markets, recording an average occupancy rate of 96.5% over the past five years. He also pointed to the growth outlook for Talent, a suburb of Medford, where the surrounding region is expected to add more than 31,000 residents by 2045.
IPA professionals Anthony Palladino, Philip Assouad, Giovanni Napoli, Ryan Harmon and Nick Ruggiero represented the seller, Bender Equities, and procured the buyer, Verdant Development Inc. David Tabata, Marcus & Millichap’s broker of record in Oregon, was also involved in the transaction.
Andrew Leahy, national director of IPA Multifamily, said demand from investors for multifamily properties with strong locations and stable operating performance continues to remain healthy. He added that assets in markets with limited new housing supply are particularly attractive to investors seeking durable fundamentals.
“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,” Leahy said.
Oak Vale in Corvallis
Oak Vale is a 257-unit multifamily community located in Corvallis. The property consists of 31 buildings constructed in 1973 and 1995 and is situated on more than 16 acres. Its location provides convenient access to Oregon State University, making it well positioned to serve residents connected to the university and the wider Corvallis community.
The property offers a park-like residential setting, with paved walking trails connecting the community to the Benton County park and trail system. The combination of green space, recreational facilities and residential amenities contributes to the community’s appeal among renters.
Oak Vale offers a mix of one-, two- and three-bedroom apartments, with units averaging approximately 767 square feet. The variety of floor plans allows the community to accommodate different household sizes and rental requirements.
Residents have access to a broad range of amenities, including a lounge, game room, fitness center and movie theater. The property also includes an outdoor sports court, providing additional recreational space for residents.
The combination of established construction, ongoing maintenance, recreational amenities and proximity to Oregon State University has helped Oak Vale maintain its position within the Corvallis multifamily market.
Anjou Club in Talent
The second property involved in the transaction, Anjou Club, is an 181-unit multifamily community in Talent, a suburb of Medford in Southern Oregon. Completed in 1990, the property occupies nearly 14 acres and includes 22 residential buildings.
Anjou Club offers a range of one-, two- and three-bedroom floor plans across three different layouts: flats, townhomes and garden flats. With an average unit size of approximately 950 square feet, the community provides relatively spacious housing options for residents.
The property features a substantial amenity package designed to support recreation and community living. Amenities include a large clubhouse, heated outdoor swimming pool, tennis court, basketball court, play structure and outdoor seating areas.
Its location near Southern Oregon University provides access to an important regional educational institution, while its position within the Medford area connects the property to the broader Southern Oregon employment and population base.
The growth outlook for the region was a key factor highlighted by IPA. Population expansion expected through 2045 is anticipated to support continued housing demand, creating favorable long-term conditions for well-positioned multifamily properties.
Strong Investor Interest in Multifamily Assets
The $83 million combined sale of Oak Vale and Anjou Club reflects broader investor interest in multifamily assets with established occupancy, attractive locations and durable operating fundamentals.
Properties in markets with constrained new supply can offer investors opportunities to benefit from existing rental demand while limiting exposure to competition from newly delivered housing. Established communities with extensive amenities can also provide additional advantages in attracting and retaining residents.
For Corvallis, strong historical occupancy and proximity to Oregon State University support the demand profile of Oak Vale. Meanwhile, Talent benefits from its connection to the broader Medford market and anticipated population growth in Southern Oregon.
The successful sale of the two properties demonstrates the continued depth of capital targeting multifamily real estate in the Pacific Northwest. It also underscores investor confidence in established residential markets where population trends, employment opportunities, educational institutions and limited supply can support long-term property performance.
With the combined $83 million transaction, Oak Vale and Anjou Club have changed ownership while remaining positioned within two Oregon markets that offer distinct but complementary multifamily investment fundamentals. The deal further demonstrates IPA’s role in facilitating institutional real estate transactions and connecting owners of established multifamily communities with investors seeking long-term opportunities.
Source Link:https://www.businesswire.com/
