$8.2M in financing secured for Oregon multi-housing community

San Francisco, May 17, 2022 – JLL Capital Markets announced today that it has arranged the $8.2 million in acquisition financing for Sunnyview Village, a 58-unit, value-add, garden-style multi-housing community in Salem, Oregon.

JLL represented the borrower, One Degree Acquisitions, to secure the three-year, floating-rate loan with two one-year extensions through Ready Capital.

Built in 1997, the two-story Sunnyview Village consists of seven buildings. The community offers an average unit size of 916 square feet and features 122 parking spaces. New ownership will invest capital to improve the asset with a focus on refreshing the existing amenities and enhancing the curb appeal.

Situated at 4200 Sunnyview Rd., the property offers convenient highway accessibility with its location directly off of Route 99E and Interstate 5. Additionally, the community is near several large employers, including the Oregon State Capital and surrounding government offices, Salem Health Hospital and a global e-commerce distribution center.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Charles Halladay, Director Jonah Aelyon and Analyst Alek Kaculini, along with Director Charlie Watson.

“One Degree Acquisitions continues to find great opportunities that benefit from the strong fundamentals witnessed in multi-housing product today,” said Halladay. “Sunnyview was a great example of this, and Ready Capital did an excellent job closing this loan in a volatile lending environment today.”

“We are excited to add Sunnyview Village to the ODA portfolio. Salem offers a high quality of life with great access to jobs and recreation, all factors that have made it a target market for the company. The acquisition furthers our commitment and focus in the Pacific Northwest and it marks our sixth acquisition in the region over the past 18 months,” said Scott Vanderhoff, Managing Director at One Degree Acquisitions.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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One Degree Acquisitions (“ODA”), is a privately-owned real estate investment company with offices in Mill Valley, CA and Portland, OR. The firm, founded in 2015, focuses on value-added real estate investments in the major infill metropolitan markets of the Western United States and invests alongside leading private equity groups, institutional capital partners and private individuals. ODA currently owns and manages over 600 multifamily units in the greater Portland area and the key principals of the firm have been active in the Oregon market for over a decade.