CBRE Arranges $20 Million Sale of Newly Constructed Multifamily Community in Bend, Oregon

CBRE arranged the sale of Steppe, an 87-unit multifamily community located at 2365 NE Conners Ave. in Bend, Oregon. The property sold for $20.025 million.

CBRE's Sam Lawhead, Joe Nydahl, Matt Dodd and Josh McDonald represented both the seller, Project^ & National Real Estate Advisors, and the buyer, Fourth Avenue Capital, in the transaction.

Completed in 2025, Steppe is a newly constructed Class A multifamily community comprising 87 apartment homes across six residential buildings and a clubhouse. The property offers one- and two-bedroom floorplans and amenities including a resident clubhouse, outdoor gathering spaces, electric vehicle charging stations and a dog wash station.

"We are pleased to have successfully closed Steppe and grateful to both the buyer and seller for their partnership throughout the process," said Sam Lawhead, first vice president at CBRE. "Bend continues to be one of the most dynamic and desirable markets in the Pacific Northwest, and Steppe's brand-new construction, prime location adjacent to St. Charles Medical Center and affluent demographic base make it an exceptional long-term investment."

Located in Bend's Mountain View neighborhood, Steppe sits adjacent to St. Charles Medical Center, one of the region's largest employers. The property is also near major retail destinations, recreational amenities and downtown Bend, providing residents with convenient access to employment, shopping and outdoor activities.