Updated Sep 3, 2026
Fourth Avenue Capital Acquires 87-Unit Apartment Complex In Bend Oregon For $20M From National Real Estate Advisors
2365 Northeast Conners Avenue
$20,000,000
Units
87
Asset Type
MultiFamily
Closing
Sep 2, 2026
About this deal
AI
The sale involved a multi-family asset located at 2365 Northeast Conners Avenue in Bend, OR. Fourth Avenue Capital acquired the property for $20 million. The apartment complex consists of 87 units, with a price per unit of $229,885, and was completed in 2025. The property features six buildings containing one- and two-bedroom units, along with amenities such as a clubhouse, outdoor gathering areas, electric vehicle charging, and a dog wash station.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $20,000,000
- Buyer: Fourth Avenue Capital
- Seller: National Real Estate Advisors
- Brokers: Sam Lawhead, Joe Nydahl, Matt Dodd & Josh McDonald - CBRE
- Units: 87
- Price Per Unit: $229,885
The transaction included key participants from both the buyer and seller sides. Fourth Avenue Capital represented the buyer group in this acquisition, while National Real Estate Advisors sold the property. The brokerage team from CBRE facilitated the transaction, comprising Sam Lawhead, Joe Nydahl, Matt Dodd, and Josh McDonald.
Players
Bend MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93