Real estate investment company, Brinkman Real Estate, closed today on the acquisition of Sunnyview Townhomes, a multifamily community in Salem, OR. This marks the company’s second acquisition in Salem this year, following Willow Tree Place Apartments acquired in February.

Sunnyview Townhomes is a boutique community with 37 units across six buildings. Built in 2008, the property includes three-story townhomes with large, 1,300-square-foot layouts. The property is currently 100% occupied. Brinkman’s planned resident-centric upgrades include enhanced property lighting, private gate access, in-unit laundry, stainless steel appliances, new flooring and countertops, smart home packages, and playground.

Brinkman Real Estate identified Salem as a target market earlier this year due to the strong leasing drivers of the area including record-low vacancy rates and outsized population growth. With proximity to outdoor destinations, higher education, and a thriving vineyard economy, Salem continues to experience population growth that’s more than double the national average.

The deal terms included mini-perm financing with ENT Credit Union arranged by Todd Karl in Fort Collins along with use of internal 1031 Exchange proceeds.

The seller was represented by Whitney Rhoades of Marcus & Millichap.

This acquisition fits within Brinkman Real Estate’s aggressive expansion strategy that follows population and job growth trends into high-growth markets throughout the Intermountain West Region. Since Q1 2021, the company has achieved nearly $370 million in transaction volume, adding more than 1,000 units to their portfolio and rising as one of the most active buyers in several markets. They continue to seek core-plus and value-add multifamily assets in similar markets throughout the mountain states.

“We already know the strength of multifamily investments in Salem,” said Kevin Brinkman, Co-Founder and CEO of Brinkman Real Estate. “We’re excited to continue growing our footprint here and throughout similar markets in the region.”

“This is a great addition to our portfolio,” added Chief Acquisitions Officer Brett Silverstein. “We’re planning to hit the ground running with updates that add comfort, privacy, and quality for our residents.”

Brinkman Real Estate’s assets under management has grown to $475 million this year. Their portfolio includes a focus on multifamily, in additional to mixed-use, office, hospitality, and retail assets.