Fourth Avenue Capital Buys Apartment Building in Bend, Oregon for $20M
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
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On the RET wire
- Disclosed multifamily deal value tracked in September 2026: $11.6B across 138 reported transactions. All Multifamily coverage →
Computed from Real Estate Trail’s own tracked coverage
BEND, ORE. — Fourth Avenue Capital has acquired Steppe, an apartment property in Bend, from National Real Estate Advisors for $20 million. Sam Lawhead, Joe Nydahl, Matt Dodd and Josh McDonald of CBRE represented both…
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