California Investors Buy Up Apartment Complexes In Eugene, Oregon
EUGENE, Ore. (CBS / AP) -- A large apartment complex in Oregon has sold to a group of California investors for $31 million.
The Register-Guard reports that it is the third time this year that California investors have paid $30 million or more for an apartment building in Eugene.
A deed filed with Lane County shows that the 192-unit Ecco Apartments sold last week, with Hamilton Zanze Real Estate Investments of San Francisco acquiring a 52.6 percent ownership stake.
Seattle-based Evergreen Housing Development Group built the complex using federal assistance to create government-subsidized housing for lower-income families.
Hamilton Zanze Managing Director David Nelson told the Register-Guard that "we really, really like the Eugene market."
Nelson says the company owns several buildings in the Portland area but is hoping to make a long-term play in Eugene.
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