OREGON CITY, OR—CBRE has completed the sale ofThe Landing Apartments and Townhomes here for for$52.5 million.

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Graham Taylor and Carrie Houckof CBRE's capital markets multifamily investment properties teamrepresented the seller, VergePointe Capital and aprominent local homebuilder. The buyer is an affiliate ofThe Randall Group Inc.

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Jim Rice and Nick Santangeloof CBRE's debt & structured finance team placed $38,555,000 inacquisition financing on behalf of the buyer.

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Located at 19901 Coast Redwood Ave. in OregonCity, The Landing is comprised of 185 townhomesand 117 luxury apartments on 14 acres. Theapartment unit mix includes spacious studios, one-, and two-bedroomhomes with nine-foot ceilings; the townhomes feature three- andfour-bedroom layouts with direct-entry single and doublegarages.

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Construction on The Landing was completed in2013. As the newest building in its submarket, lease uppace was brisk. The property was 96% occupied atthe time of sale. CTL Management will provide property managementservices.

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VergePointe Capital is a private equity firm in Lake Oswego,OR. The firm makes investments in both real estate andclosely held businesses in the Portland metro area and is dedicatedto serving the local community's private equity needs. Matt Vance and Scott Robertsmanaged the investment in The Landing for VergePointe Capital.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.