March 24, 2020 Comments Off on Security Properties Bags Bend MF for $52M Views: 423 Pacific Northwest, Seattle & Pacific Northwest News

Security Properties Bags Bend MF for $52M

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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.

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