JLL Capital Markets completed the sale of the 176-unit Sheldon Butte in Eugene, Oregon
PORTLAND, Dec. 20, 2021 – JLL Capital Markets announced that it has closed the $35.75 million sale of Sheldon Butte, a 176-unit, garden-style, value-add apartment community in Eugene, Oregon.
JLL represented the seller, Cumberland Holdings, LLC. Clear Capital, LLC acquired the asset.
Built in 1972, Sheldon Butte features units with vinyl plank and carpet flooring, white and jet-black appliances, laminate countertops, natural wood cabinetry, a balcony or patio in select floorplans and an average unit size of 736 square feet. Community amenities include a leasing office, a community lounge, a fitness center, a pool and spa, four laundry facilities, a recycling center, a dog park, picnic and barbecue areas and a community garden.
Located at 2555 Willakenzie Rd., the community offers residents accessibility to Coburg Road, Route 569, Interstates 5 and 105, downtown Eugene, Springfield and Eugene Airport. The location also provides proximity to top employers such as PeaceHealth and the University of Oregon, in addition to educational institutions, including Oregon State University, Lane Community College, Bushnell University, Sheldon High School, Monroe Middle School and Willagillespie Elementary School. Centrally located between Oakway Center, The Shoppes at Gateway and Valley River Center, Sheldon Butte residents benefit from the 9.6 million square feet of retail options within a three-mile radius, as well as various entertainment opportunities at Sheldon Sports Park, Autzen Stadium, Willamette River, Oakway Golf Course, Alton Baker Park and Hayward Field.
The JLL Capital Markets team representing the seller was led by Senior Managing Director Ira Virden, Senior Director Carrie Kahn and Associate Frank Solorzano.
“Sheldon Butte represents an opportunity to own a true blank-slate, value-add community in one of the West Coast’s most highly demanded secondary markets,” said Virden. “The property’s central location off Coburg Road, one of the city’s primary retail arterials in the heart of Eugene, makes it well-positioned for significant capital appreciation.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
About Clear Capital, LLC
Clear Capital, LLC is a Los-Angeles based private equity real estate investment firm specializing in multifamily real estate investments. The firm focuses on the acquisition, renovation, repositioning and management of multifamily housing assets throughout the Western, Mountain and Sunbelt regions of the United States. Clear Capital currently owns and operates a diverse portfolio of multifamily assets with over 5,000 units across the risk spectrum from value-add to core. Clear Capital’s distinctive approach to investing in real assets has consistently produced above-average, risk-adjusted returns for its private and institutional investors.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
