Brinkman Real Estate Enters Oregon Market with Acquisition of Salem Multi-Family Community

Real estate investment company, Brinkman Real Estate, closed today on the acquisition of Willow Tree Place Apartments, a multi-family community in Salem, OR. This marks the company’s sixth multi-family acquisition in as many months within high-growth markets in the Intermountain West Region.

Willow Tree Place Apartments was built in 2021 and includes 96 two- and three-bedroom garden-style units with Class A interior finishes. Brinkman Real Estate identified Salem as a target market due to the strong leasing drivers of the area, including record-low vacancy rates, outsized population growth, and immediate access to outdoor destinations, regional air travel, higher education, and a thriving vineyard economy.

The deal terms included a bridge loan with Ladder Capital arranged by Brady O’Donnell, Jeff Halsey, Alex Scott and Jill Haug with CBRE Capital Markets’ Debt & Structured Finance group in Denver.

The seller was represented by Gabe Johansen of SMI Real Estate.

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. The company executed on nearly $160 million in transaction volume in 2021, rising as one of the most active buyers in several growing markets in the Intermountain West. They continue to seek core-plus and value-add assets in similar markets throughout the region.

“Salem is exactly the type of market we want to be in,” said Kevin Brinkman, Co-Founder and CEO of Brinkman Real Estate. “It has all the fundamental attributes that support real estate investment – high quality of life, relative affordability, low vacancy, and strong population growth.”

Since their founding, Brinkman has developed and acquired over $500 million in project volume. Their portfolio includes a diversity in assets from multi-family, mixed-use, office, hospitality and retail.