PORTLAND, OR – OCTOBER 2, 2017 – CBRE announced today that they completed the $18,750,000 million sale of Barclay Village, a 146-Unit apartment community in Oregon City, to Virtu Investments. Phil Oester, Joe Nydahl and Josh McDonald of CBRE’s Northwest Multifamily Institutional Investment team completed the sale on behalf of Barclay Cascade Investors, LLC.
Built in 1987 in historic Oregon City, Barclay Village offers a mix of one and two bedroom units (10% and 90%, respectively) averaging approximately 989 square feet. 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 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.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.