(Walnut Creek, CA) November 8, 2022 — Wrapping up a busy year of transactions, PTLA Real Estate Group announced that they acquired The Element last week, a four-property student housing portfolio bordering the University of Oregon’s campus in Eugene. The 186-unit portfolio features premium amenities and recently underwent roughly $2 million worth of renovations. The properties are over 95% occupied for the 2022-2023 school year.
This portfolio acquisition is PTLA’s largest in history and continues a tremendous period of expansion for them in the Eugene market. In the last 18 months, PTLA has closed on well over $100 million in student housing properties, bringing their total portfolio to about 400 units, or 1,100 beds in Eugene. The Element properties will be managed by the award-winning Eugene regional office of PTLA’s property management division.
The addition of this portfolio comes just as the University of Oregon welcomed its largest incoming freshmen class in history this Fall, which bodes well for the future of that student housing market. “The reputation and campus life of U of O make it desirable for college students, and this, coupled with strong housing demand, makes us confident in our approach,” said Peter Wilson, President of PTLA. “We locked our interest rate before recent market turbulence, fortunately, and anticipate a successful investment.”
“This transaction is significant for our company and for our clients. These are quality properties in excellent locations, and they are a strong addition to our Eugene portfolio,” Gary Guarisco, CEO of PTLA, commented.
ABOUT PTLA REAL ESTATE GROUP
PTLA Real Estate Group is an independent company that acquires and manages real estate with a specific focus in the West Coast market. In our 50-year history, we have built a team and company centered around the goal of achieving a higher standard of excellence. For more information, please visit our website at www.ptlareg.com.