$8.2M in financing secured for Oregon multi-housing community

26 May 2022

San Francisco, CA – JLL Capital Markets announced today that it has arranged the $8.2 million in acquisition financing for Sunnyview Village, a 58-unit, value-add, garden-style multi-housing community in Salem, Oregon.

JLL represented the borrower, One Degree Acquisitions, to secure the three-year, floating-rate loan with two one-year extensions through Ready Capital.

Built in 1997, the two-story Sunnyview Village consists of seven buildings. The community offers an average unit size of 916 square feet and features 122 parking spaces.  New ownership will invest capital to improve the asset with a focus on refreshing the existing amenities and enhancing the curb appeal.

Situated at 4200 Sunnyview Rd., the property offers convenient highway accessibility with its location directly off of Route 99E and Interstate 5. Additionally, the community is near several large employers, including the Oregon State Capital and surrounding government offices, Salem Health Hospital and a global e-commerce distribution center.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Charles Halladay, Director Jonah Aelyon and Analyst Alek Kaculini, along with Director Charlie Watson.

“One Degree Acquisitions continues to find great opportunities that benefit from the strong fundamentals witnessed in multi-housing product today,” said Halladay. “Sunnyview was a great example of this, and Ready Capital did an excellent job closing this loan in a volatile lending environment today.”