Security Properties Acquires 205-Unit Multifamily Property in Oregon for $52M

by Amy Works

BEND, ORE. — Security Properties, in partnership with a university endowment, has purchased Outlook at Pilot Butte, a Class A apartment community in Bend. An undisclosed seller sold the asset for $52 million.

Located at 2001 NE Linnea Drive, Outlook at Pilot Butte features 205 apartments in a mix of one- and two-bedroom layouts with well-appointed kitchens, air conditioning, walk-in closets, in-unit full-size washers and dryers, and private patios or balconies. Community amenities include a clubhouse, resident lounge, fitness center, game room, bicycle storage facility, and outdoor fireplace and fire pit lounge.

The buyer plans to implement light interior and exterior renovations, including cosmetic upgrades to unit interiors and enhancing the existing amenity spaces. Security Properties Residential, an affiliate of Security Properties, will manage the asset.

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