**TSB Realty Completes Sale of The Union Corvallis Near Oregon State University**
TSB Realty has finalized the sale of The Union Corvallis, a 68-unit, 221-bed luxury student housing community located near the campus of Oregon State University in Corvallis, Oregon. The buyer of the property is Cardinal Group Companies (CGC), a nationally recognized real estate firm specializing in multifamily and student housing.
“The Union has an exceptional reputation in the market and a strong operational history, including more than 16% rent growth from 2023 to 2024,” said Randall Calvert of TSB Realty.
Originally delivered in 2013, the property consists of one-, two-, and four-bedroom units, all of which recently underwent a renovation cycle. With the acquisition, Cardinal Group plans to implement a new business strategy for the asset.
“We’re excited to recapitalize The Union Corvallis and execute a new business plan to further boost the property’s offerings,” said Madison Meier, Senior Vice President and Head of Capital Markets at Cardinal Group Investments.
Cardinal Group Companies is a comprehensive real estate firm offering services in management, investment, construction, consulting, and marketing, with a focus on the multifamily and student housing sectors. TSB Realty is a national investment sales firm that specializes in the valuation and sale of student housing and conventional multifamily assets.
