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10/03/17
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In a recent OR multifamily sales comp, Virtu Investments paid $18.75 mil for Barclay Village, a 146-Unit ($128.4k/unit) apartment community in Oregon City. The asset was sold by Barclay Cascade Investors LLC.
Built in 1987, Barclay Village offers a mix of one- and two-bedroom units (10% and 90%, respectively) averaging 989 sf in size. The larger than average units make Barclay Village a very attractive living option. The property offers a wide array of amenities, including covered parking, in-unit fireplaces, balconies, dishwashers and hookups for a washer and dryer, as well as community fitness options including basketball and tennis courts, a pool/spa, fitness center.
Barclay Village is the closest large apartment complex to the rejuvenating downtown of Oregon City. The property was 97% occupied at the time of the sale. Approximately 50% of the units have received modest renovations upon turnover.
Phil Oester, Joe Nydahl and Josh McDonald of CBRE’s Northwest Multifamily Institutional Investment team represented the seller in the transaction.
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