Walnut Creek, CA (May 14, 2020) – PTLA Real Estate Group announced the acquisition of a 226-bed student housing portfolio, with properties located in Eugene and Corvallis, Oregon. The acquisitions are PTLA’s first in these two markets, and the company plans to look for more opportunities to expand in these areas.
The 20-unit, 96-bed Eugene property built in 2008 is only one block from The University of Oregon campus, a highly desirable location for students of one of Oregon’s top universities. The two Corvallis properties have a combined 26 units and 130 beds. The complexes were built in 2009 and are both less than a 5-minute walk from the Oregon State University’s Corvallis Campus. Speaking of the acquisition, Peter Wilson, President of PTLA Real Estate Group, said: “Trying to close a transaction during a pandemic was certainly a first for us. This situation presented unique challenges, but all parties were committed to a successful transaction and worked creatively to make it happen. We are very proud of this acquisition.”
PTLA worked with Beth DuPont, Vice President of Investment Sales at SVN Imbrie Realty and Rene Nelson, CCIM, owner and President of Pacwest Commercial Real Estate. Speaking of the transaction, the brokers said in a joint statement: “We are very pleased to work with PTLA in acquiring some of their first student housing properties in the state of Oregon. PTLA has a long-term vision and commitment to student housing in Oregon and were very strategic in getting to the ‘finish line’ during this challenging COVID-19 environment.”
PTLA Real Estate Group adds this portfolio to their nearly 4,000 units under management. The purchase aligns with their current investment strategy of purchasing student housing in the Pacific Northwest. The company has grown significantly in the last few years, acquiring two management companies and entering several new markets with multifamily investments.
ABOUT PTLA REAL ESTATE GROUP
PTLA Real Estate Group is an independent company that acquires and manages residential and commercial 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.