A group of California apartment investors has bought a large Eugene apartment complex for $31 million, the third time this year that investors from the Golden State have paid $30 million or more for a Eugene apartment building.
Ecco Apartments, a 192-unit complex off River Road and Hatton Avenue built by private developers using federal assistance to create government-subsized housing for lower-income families, sold last week. The majority buyer was San Francisco-based Hamilton Zanze.
“We really, really like the Eugene market,” said David Nelson, managing director at Hamilton Zanze. “We own a bunch of assets in the Portland metro area, but we were looking to Eugene to be a long-term play,” Nelson said. The firm plans to build a pool at Ecco Apartments, but doesn’t have any other changes in store, he said.
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