$43.1 million multifamily deal completed in Eugene

By: Chuck Slothower//April 20, 2016//

$43.1 million multifamily deal completed in Eugene

Chuck Slothower//April 20, 2016//

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A 127-unit apartment complex in Eugene has sold for $43.1 million to a California firm.

Riverwalk Apartments was developed by BPM Real Estate Group of Portland and completed in 2015. It was fully leased this year.

The seller was Alexander Loop LLC of Portland, an entity owned by a partnership managed by Walter C. Bowen. The buyer was Green Leaf Riverwalk of Danville, California. The sale was brokered by HFO Investment Real Estate LLC of Portland.

The sale price equates to $158,456 per unit, or $205.21 per square foot.

Riverwalk Apartments is located near the Willamette River and Delta Ponds City Park. The property offers access to a 12-mile bike path along the river.

HFO partner Cody Hagerman said Eugene is an attractive market because of growing technology and medical sectors. Riverwalk Apartments drew significant interest from investors in California, Arizona, Utah and Illinois, according to HFO.

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