San Francisco firm purchases Wilsonville apartments

WILSONVILLE, OR — San Francisco-based FPA Multifamily, LLC has purchased a 126-unit apartment complex in Wilsonville for $10.7 million.

The Illahee at Charbonneau apartments, located at 8755 S.W. Illahee Court, consists of 43 one-bedroom, one-bath units; 17 two-bedroom, one-bath units; 37 one-bedroom, one-bath townhouses; and 29 two-bedroom, one-and-a-half-bath townhouses.

Thomas Marcus of Tilbury Ferguson Investment Real Estate Inc., the company which brokered the deal, said the complex was 95 percent occupied at the time of purchase.

A pro-forma statement by Tilbury Ferguson listed the property’s net operating income at approximately $690,000 and its capitalization rate at between 6.4 percent and 6.6 percent.

FPA purchased the property from Portland-based Dalton Management via Illahee Holdings, LLC.

FPA is a privately capitalized real estate investment firm that focuses on multifamily properties in high growth markets. The company has completed more than $4.8 billion in acquisitions across the country, according to its website.