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12/24/24
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Barclay Village, a 146-unit, garden-style multifamily community in Oregon City, OR, traded hands in a $29.2 mil ($200k/unit) deal. The property, located at 775 Cascade St, was built in 1987 and has been undergoing extensive renovations since 2017.
Barclay Village features a mix of 146 one- and two-bedroom units, providing a modern and inviting living experience. The apartments are equipped with modern amenities and conveniences, enhancing their appeal as a desirable residential option. The property offers a range of amenities, including a pool, spa, fitness center, basketball court, tennis court, clubhouse, and covered parking, ensuring a luxurious and convenient lifestyle for residents.
CBRE’s Josh McDonald and Joe Nydahl represented the seller, Virtu Investments, in the transaction.
“Barclay Village attracted significant investor interest due to its highly desirable suburban location, convenient proximity to major employers, and its wide range of amenities,” said McDonald. “Oregon City's strong demand for multifamily housing, driven by its rapidly growing city center, further enhances the appeal of this community.”
According to CBRE research, the Portland multifamily market demonstrated positive net absorption of 3,193 units in Q3 2024, reflecting strong demand for multifamily housing in the region.
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