BEND, OR – Security Properties and a university endowment bought Seasons at Farmington, a 228-unit, Class-A multifamily community located in Bend, OR for $45,500,000. This is Security Properties’ first acquisition in Bend. 

Seasons at Farmington is located in the Ancient Farm District, just southeast of Downtown Bend. In recent years Bend has become nationally recognized for its relatively low cost of living paired with its high quality of life. Outdoor enthusiasts frequent the varying bike trails and walking paths, innumerable golf courses, rivers, and proximate ski resorts. Bend also boasts an array of breweries and restaurants, as well as the Les Schwab Amphitheatre, an outdoor, riverfront venue that hosts a mix of year round concerts and events.

Bend has become the home of a diverse and ever-expanding business community, anchored by a mix of biomedical companies, regional hospitals, national-scale microbreweries, resorts, and Silicon Valley tech transplants. 

The units at Seasons at Farmington offer a mix of 1- and 2- bedroom floorplans. The apartment homes feature well-appointed kitchens, spacious walk-in closets, in-unit full-size washers and dryers, as well as private patios / balconies. Additionally, the property offers a comprehensive amenity package including a swimming pool, a clubhouse with lounging areas and a fitness center, a dog park, and an outdoor fire pit.

The asset represents a core-plus investment with light interior and exterior renovation characteristics. SP will be adding cosmetic upgrades to unit interiors as well as enhancing the existing amenity spaces. 

Davis Vaughn, Senior Director of Investments at Security Properties says, “Bend has been a target market for SP for several years because of the compelling combination of affordability and quality of life.  This is a top-of-the-market asset that should provide brilliant returns for our investors as Bend continues to grow.”

The property will be managed by Security Properties-affiliate Security Properties Residential.

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SAN FRANCISCO, CA – The John Buck Company, Paramount Group, Inc., and SRE Group Ltd have officially unveiled the stunning vision for One Steuart Lane, a 20-tale, last-of-its-kind condominium development situated directly along San Francisco’s waterfront. Designed by world-renowned architecture firm Skidmore, Owings & Merrill (SOM), One Steuart Lane will evoke a sense of timeless elegance and sophistication, emulating the vast natural beauty that surrounds it.

The 120 residences will comprise one- to three-bedroom floor plans as well as penthouse residences that will range in size from approximately 900 to 3,100 square feet. Each residence will boast floor-to-ceiling windows with elevated ceiling heights showing extraordinary natural light, with many featuring private balconies or terraces which will boast direct, unobstructed views of the Bay Bridge and Ferry Building. Envisioned by a team of internationally renowned designers, the rich interiors will conjure a sense of classic elegance with the finest finishes and fixtures available. A thoughtfully curated collection of amenities and services will include a residents’ lounge with full kitchen, dining and outdoor gathering spaces, private fitness center, spa with water therapy showers and sauna, outdoor jacuzzi surrounded by a sun terrace, 24-hour lobby and valet attendants along with an approximately 4,500-square-foot retail space. 

“One Steuart Lane represents an opportunity that will likely never again exist in San Francisco. From the meticulously designed residences set squarely on the waterfront to the unparalleled views and prime location, One Steuart Laneoffers a world-class urban lifestyle for buyers who seek a private sanctuary but still desire a connection to the heart of the city,” said Ben Kochalski, Principal, The John Buck Company.  “The San Francisco market has proven ready for a building of this caliber right now as tech titans open new offices in the city. With limited for-sale inventory slated to hit the market in the coming years, demand will grow for upscale housing that offers subtle, yet high-class design elements and is conveniently located next to the growing tech hub.”

To achieve a vision that evokes both elegance and modernity, the development team engaged SOM and Rottet Studio to conceptualize a design that uniquely expresses the indoor-outdoor lifestyle of California living. Targeting LEED Gold certification, One Steuart Lane will also boast a minimally reflective, ultra-clear glass facade that will take advantage of the abundant sunlight and cool ambient climate in San Francisco to passively heat the residences and reduce energy consumption. 

“One Steuart Lane’s ambition is to match the best site on the West Coast with truly world class architecture. The building connects owners visually and literally with the extraordinary natural and urban beauty of San Francisco. Pairing this architecture with Rottet Studio’s renowned interiors brings a level of design to our waterfront on par with the best residences in the world,” added Mark Schwettmann, Design Director of SOM in San Francisco.

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