March 24, 2020
Seattle-based Security Properties and a university endowment purchased Outlook at Pilot Butte, a 205-unit, Class A multifamily community located in Bend, OR for $52 million. This is Security Properties’ third acquisition in the Bend market.
Outlook at Pilot Butte is conveniently located on Bend’s eastside, just a five-minute drive from Downtown. The property is situated at the base of Bend’s most iconic landmark, Pilot Butte.
The property offers a mix of one and two-bedroom floorplans featuring well-appointed kitchens, air conditioning, spacious walk-in closets, in-unit full-size washers and dryers, as well as private patios / balconies. Outlook offers a clubhouse with resident lounge, fitness center, game room, bicycle storage facility and both an outdoor fireplace and fire pit lounge.
The asset represents a core-plus investment with light interior and exterior renovation characteristics. Security will be adding cosmetic upgrades to unit interiors as well as enhancing the existing amenity spaces.
For comments, questions or concerns, please contact Dennis Kaiser