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Jonathan Slager Of Bridge Investment Group Purchases 225-Unit Multifamily Complex In Gresham For $49.5M

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SOLD
$49,500,000

Oregon

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MultiFamily
Sold 04/25/2025
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Property Image
SOLD

Jonathan Slager Of Bridge Investment Group Purchases 225-Unit Multifamily Complex In Gresham For $49.5M

20300 Southeast Morrison Terrace

See Similar Deals
MultiFamily
Sold 04/25/2025
the dealplayerscompscontact
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Summary

OREGON
Asset Type:MultiFamily
Transaction Type:Sale

The Landings at Morrison complex, a multifamily asset, was sold for $49.5 million, equating to $220,000 per unit. This 225-unit property is located at 20300 Southeast Morrison Terrace in Gresham, Oregon.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $49,500,000
  • Units: 225
  • Price Per Unit: $220,000
  • Buyer: Jonathan Slager - Bridge Investment Group
  • Seller: Jackson Square Properties

The deal was facilitated by Kidder Mathews, highlighting the comprehensive efforts involved in this significant multifamily transaction within the Gresham market.

Players

JP
Jackson Square Properties
SELLER

Details

SOLD
IMAGE: Jonathan Slager DATE: 04/25/2025 ADDRESS: 20300 Southeast Morrison Terrace MARKET: Gresham, OR ASSET TYPE: Multifamily BUYER: Jonathan Slager - Bridge Investment Group (@Bridge.CRE) SELLER: Jackson Square Properties SALE PRICE: $49,500,000 UNITS: 225 ~ PPU: $220,000 NOTE: Bridge Investment Group bought the 225-unit Landings at Morrison complex in Gresham, Ore., for $49.5M ($220K/unit) from Jackson Square Properties, with Kidder Mathews highlighting the deal.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,640,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$175,863.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$234,655.25
Annual Debt Service$2,815,863.04