Walnut Creek, CA (July 23, 2021) – This week, PTLA Real Estate Group acquired a portfolio of eleven multifamily properties in the West University neighborhood of Eugene, OR. The 316-bed portfolio is walking distance to the University of Oregon campus and fully leased for the 2021/2022 school year.
“This is the biggest acquisition in our company’s history, and it significantly increases our presence in Eugene, so this is a special moment for us. We are so pleased with how this transaction went and want to thank the many people involved for their hard work,” said Gary Guarisco, CEO of PTLA Real Estate Group.
The purchase marks PTLA’s 7th student housing acquisition in the Pacific Northwest and 3rd in Eugene in 18 months. Student housing now makes up more than half of their over 4,000-unit management portfolio.
They continue rapid expansion in the student sector as part of their investment strategy and through their third-party management arm as they become more specialized operators. Along with the purchase, PTLA will open a regional property management office, which will oversee the newly acquired properties and provide third-party management services to Eugene, Corvallis, and the surrounding area.
Of the new office, Gary said, “We have a skilled property management team that has decades of experience in student housing, and we’re proud to now offer their expertise to property owners in Eugene.”
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.