brokerage firm – Daily Journal of Commerce /news/tag/brokerage-firm/ Building and Construction News in Portland, Oregon and the Pacific Northwest Tue, 09 Aug 2022 17:39:20 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.6 /files/2023/08/favicon.webp brokerage firm – Daily Journal of Commerce /news/tag/brokerage-firm/ 32 32 Bend apartment complex sells for $49.5 million /news/2022/08/08/bend-apartment-complex-sells-for-49-5-million/ Mon, 08 Aug 2022 21:43:19 +0000 /?p=268831 Seattle-based Security Properties has purchased the 168-unit Sienna Pointe Apartments in Bend.

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, a 168-unit property, is near Pilot Butte Neighborhood Park (background, right) in Bend. (courtesy of )

Seattle-based Security Properties has purchased the 168-unit Sienna Pointe Apartments in Bend for $49.5 million.

Portland-based commercial real estate HFO Investment Real Estate represented the seller, Bend Housing LLC, in the transaction.

The class B, low-density asset was built in 1991 and recently updated, according to HFO. Sienna Pointe is located at 1855 N.E. Lotus Drive, between Pilot Butte Neighborhood Park and St. Charles Medical Center.

HFO partner Rob Marton represented Bend Housing LLC, in the .

HFO previously brokered the sale of the property in 2016 for $23.75 million ($141,369 per unit). That was the highest per-unit sale price of a property in Bend at that time.

Nick Santangelo of CBRE Capital Markets’ Debt and Structured Finance in Portland secured $31.4 million in financing — a seven-year, fixed-rate, full-term, interest-only loan through CBRE Multifamily Capital — for Security Properties.

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