CBRE recently announced the successful sale of Outlook at Pilot Butte, a 205-unit multifamily community in Bend, Oregon. The undisclosed buyer purchased the property for $57.5 million with representation from CBRE’s Josh McDonald, Joe Nydahl, and Phil Oester.
Constructed in 2017 and situated at 2001 NE Linea Drive, this garden-style community features three four-story residential buildings offering one- and two-bedroom floorplans averaging 761 square feet. Residents can enjoy various amenities such as a fitness center, resident clubhouse with lounge area, outdoor patio with fire pit and views of Pilot Butte.
According to McDonald from CBRE: “Bend is an ideal location for high-quality rental housing due to its strong demand drivers. As Oregon’s primary economic hub east of the Cascades region coupled with abundant outdoor recreation opportunities and low cost of living compared to other West Coast markets.” He also added that these factors are attracting remote workers which will continue to drive population growth in Bend – providing great potential for future returns on investment for new owners.
This recent transaction marks another success story by CBRE as they continue their track record of delivering exceptional results within the real estate market.
