Institutional Property Advisors Brokers $83 Million Sale of Two Oregon Multifamily Properties

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), has brokered the $83 million sale of two Oregon multifamily communities, Oak Vale in Corvallis and Anjou Club in Talent, the firm announced Sept. 11, 2026. Bender Equities sold the combined 438-unit portfolio to Verdant Development Inc.

Deal Team and Representation

Anthony Palladino, Philip Assouad, Giovanni Napoli, Ryan Harmon, and Nick Ruggiero of IPA represented the seller and procured the buyer. David Tabata, Marcus & Millichap's broker of record in Oregon, also participated in the representation.

"The quality of construction and maintenance of these two properties attracts and retains the most discerning renters, and previous ownership was meticulous in their upkeep and reinvestment," said Anthony Palladino, IPA senior director investments. "With an average occupancy rate of 96.5% over the last five years, Corvallis is often among the strongest apartment markets in the state. Talent, a suburb of Medford, benefits from the region's population growth, which by 2045 is expected to increase by over 31,000 new residents."

Andrew Leahy, national director of IPA Multifamily, pointed to broader capital market dynamics as a driver of the transaction. "Investor demand for well-located multifamily assets with durable operating fundamentals remains strong, particularly in markets where new supply is limited," Leahy said. "These transactions demonstrate the depth of capital seeking opportunities in established Pacific Northwest markets and investors' continued confidence in the long-term performance of the multifamily sector."

Property Details: Oak Vale and Anjou Club

Oak Vale, located at 3930 NW Witham Hill Dr in Corvallis, is a 257-unit community spread across 31 buildings on more than 16 acres. The property was built in 1973 and 1995 and sits a short drive from Oregon State University. Its park-like setting includes paved walking trails connecting to the Benton County park and trail system. Community amenities include a lounge, game room, fitness center, movie theater, and outdoor sport court. The unit mix of one-, two-, and three-bedroom apartments averages 767 square feet.

Anjou Club, located at 100 N Pacific Hwy in Talent, is a 181-unit community completed in 1990 across 22 buildings on nearly 14 acres near Southern Oregon University. The property offers one-, two-, and three-bedroom floor plans in three layout types: flats, townhomes, and garden flats, with an average unit size of 950 square feet. Amenities include a large clubhouse, heated outdoor swimming pool, tennis court, basketball court, play structure, and outdoor seating areas.

Market Context: Supply Constraints and Population Growth

The transaction reflects a broader trend of investors targeting stabilized multifamily assets in markets where new apartment supply is limited. Corvallis has maintained an average occupancy rate of 96.5% over the past five years, a figure IPA cited as evidence of the market's durability.

In the Talent and Medford region, population growth projections add a long-term demand component. The area is expected to add more than 31,000 new residents by 2045, according to figures cited in the announcement.

Nationally, apartment market conditions have been shifting as new construction activity slows. Apartment starts have declined roughly 75% from their 2022 peak, and the national vacancy rate has fallen to 4.5%, according to Marcus & Millichap midyear research. In the Portland metro, apartment deliveries are expected to decline approximately 60% year over year, a trend that analysts say should help vacancy rates stabilize or improve across the broader Pacific Northwest region.

About Institutional Property Advisors

Institutional Property Advisors is a division of Marcus & Millichap focused on serving institutional clients through real estate investment and capital markets expertise. The division provides acquisition, disposition, and financing services for institutional properties and portfolios.

Sources: Institutional Property Advisors press release, Sept. 11, 2026