BPM Real Estate Group sells luxury multifamily asset Riverwalk Apartments for $43.1 million
April 20, 2016
Local multifamily real estate investment firm HFO Investment Real Estate announced it has arranged the sale of Riverwalk Apartments, one of the newest and most expensive apartment communities in Eugene, Ore. The luxury multifamily asset was acquired for $43.1 million by Green Leaf Riverwalk of Danville, Calif.
The sale price of the 272-unit property equates to a price per unit of $158,456, or $205.21 per square foot. The seller was Alexander Loop LLC, owned by a partnership managed by Walter Bowen, CEO at BPM Senior Living Company.
Riverwalk Apartments was developed by Portland-based BPM Real Estate Group and completed in 2015. By 2016, the community was fully occupied.
Located at 470 Alexander Loop, Riverwalk Apartments offers studio, one-, two- and three-bedroom floor plans ranging in size from 486 to 1,985 square feet. It is conveniently situated on a bus line and close to the 150-acre Delta Ponds City Park, with access to a bike connector leading to the 12-mile bike path along the Willamette River.
Community amenities include a clubhouse, heated swimming pool, townhouse, fitness center, business center, media center, as well as trails for biking, hiking and jogging. Unit amenities include patios and balconies, hardwood floors, air conditioning and extra storage.