CBRE Facilitates $19M Sale of OR Community
The company represented the seller, Barclay Cascade investors LLC in the transaction. The property’s average monthly rent was $1,204 as of September.
By Adina Marcut
CBRE has finalized the sale of Barclay Village, a 146-unit metro Portland community. Phill Oester, Joe Nydahl and Josh McDonald of CBRE’s northwest team secured the transaction on behalf of the seller. Barclay Cascade Investors LLC sold the asset for $18.7 million to Virtu Investments.
Located at 775 Cascade St. in Oregon City, on approximately 23 acres, Barclay Village offers convenient access to the city’s downtown area. The community is in close proximity to various shopping, dining and entertainment venues such as Hilltop Mall, Oregon City Farmer’s Market, Singer Creek Park, Museum of the Oregon Territory and Grocery Outlet Bargain Market.
989 average SF
The 13 two- and two- and one-half-story buildings feature one- and two-bedroom units ranging in size from 782 to 1,031 square feet. Built in 1987, the property offers common area amenities such as:
- seasonal heated pool
- fitness center
- tennis court
- basketball court
- wood burning fireplaces
Additionally, Barclay Village offers a total of 276 parking spaces. According to data provider Yardi Matrix, the average rental rate was $1,204 as of September. The property boasted an occupancy rate of 97.3 percent as of August.
Image courtesy of CBRE
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