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CBRE Expands Institutional Multifamily Investment Sales Market In The Northwest With Key Appointments

Portland, OR – January 25, 2017–CBRE Group, Inc. announced that Phil Oester and Joe Nydahl have joined CBRE Capital Markets as senior vice president and first vice president, respectively. Mr. Oester and Mr. Nydahl join the firm’s highly recognized multifamily institutional investment sales team in the Pacific Northwest and will focus on expanding the firm’s market share in the region.

Based in Portland, Mr. Oester and Mr. Nydahl will collaborate with existing team members Josh McDonald, also in Portland; and Jon Hallgrimson, Eli Hanacek and Frank Bosl, based in Seattle, Washington, with the aim of strengthening CBRE’s position as the market leader. They have more than 36 years of combined experience and deal volume of more than $750 million across 25 deals since 2015. Their addition extends the team’s region and scale of services across Washington, Oregon and Idaho.

Both professionals join CBRE from Berkadia. They will report to Chris Akins, senior managing director, Multifamily, CBRE Capital Markets.

“The Pacific Northwest team has excelled at understanding the investor demand for multifamily assets and has utilized their comprehensive market knowledge to provide exceptional client outcomes. The unprecedented growth of the multifamily market in the Northwest in recent years has been very beneficial for owners and developers,” said Ms. Akins. “The addition of Phil and Joe to our Northwest team in Portland will strengthen existing client relationships and provide additional investment opportunities throughout Oregon, Washington and Idaho.”

Mr. Oester is a high-performing real estate investment sales professional with more than 20 years of experience. Throughout the course of his career he has arranged more than $2 billion in sales for clients, and was the top-producing multifamily broker in Portland for 10 consecutive years during his tenure at Berkadia. His extensive market knowledge, resolved work ethic and strong commitment to excellence are the cornerstones of his value creation for clients.

Mr. Nydahl is an accomplished investment sales professional with a diverse background and world-class development experience. He has partnered with Mr. Oester for the past three years. Prior to Berkadia, he was a project manager for Gerding Edlen Development and oversaw more than $250 million in multifamily development.

“We are thrilled with the opportunity to have Phil and Joe join our Pacific Northwest Investment Sales team,” said Mr. Hallgrimson, executive vice president, CBRE Capital Markets. “Their market expertise, incredible reputation within the industry and exemplary client-first work ethic is a perfect fit for us.”

Mr. Oester and Mr. Nydahl have sold large properties throughout Portland, Salem, Eugene, Corvallis, and Bend, Oregon. Their combined recent transactions include: $55.0 million sale of a 238-unit apartment community in Portland; $45.8 million sale of a 249-unit apartment community in Eugene; $45.0 million sale of a 112-unit apartment complex in Portland; $39.0 million sale of a 132-unit apartment building in Portland; $37.5 million sale of a 160-unit apartment community in Portland; $14.0 million sale of a 32-unit apartment property in Portland. They are also active in Tri-Cities, Washington, and Boise, Idaho.

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 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 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.