Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
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QUICK STATS
$2,213/$2.12
Market Rent
41,838
RENTABLE AREA
2023
YOC
48
UNITS
Investment highlights
The property has an Option 2 HAP Contract covering all 48 units
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Incredibly well performing asset with a vacancy rate below 1.5% over the trailing-12 months
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Attractive In-Place Financing with a Freddie Mac Loan at a 4.46% interest rate maturing in 2029 and a TCAP Loan at a 0% interest rate maturing in 2041
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Potential Rental Upside as the property will be eligible for a Mark-Up-To-Market in 2026
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xxx
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96%
OCCUPIED
The Portland-Vancouver-Hillsboro HUD Fair Market Rents have experienced incredible growth with the 2 bedroom FMR growing from $1,495 in 2020 to $1,997 in 2025
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GALLERY
GALLERY
1981 / 2011
BUILT / PIS
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201 SW Agee St. - McMinnville, OR 97128
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PROPERTY OVERVIEW
Villa West is a 48-unit affordable housing community located in McMinnville, OR. The property is conveniently located minutes from major retailers, including Walmart, Albertsons, and Lowe’s. Numerous restaurants, outdoor recreation, schools, and major transportation arteries are nearby as well.
The property was built in 1981 and renovated and placed in service in 2011 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 60% of the Area Median Income (AMI) limits, which are provided by the Oregon Housing and Community Services Department.
Additionally, the property is a recipient of HUD Section 8 project based rental income assistance pursuant to a Housing Assistance Payment (HAP) contract. The current contract runs until March 31, 2033 and provides coverage for all 48 units.
Villa West offers one, two, and three bedroom apartment homes featuring large closets, patios, and updated bathrooms. Community amenities include a community room, laundry room, playground, picnic area, and a basketball court.
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
800 W. Main St.
Suite 1410
Boise, ID 83702
BOISE OFFICE
Senior Director
Affordable Housing
208.631.4981
jordan.skyles@berkadia.com
ID License: #SP42885
Jordan Skyles
Director Multifamily 303.689.8320 nate.moyer@berkadia.com
CO License #FA.100077890
nate moyer
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
Associate Director 817.821.9559 jack.leonhard@berkadia.com
Jack Leonhard
The Opportunity
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
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Senior LIHTC Property built in 2011 containing 90 units located in the 8-story building along with 10 three-bedroom townhome units
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Well located asset just under 7 miles from downtown Miami, as well as the Miami International Airport
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
TIM LEONHARD
Associate Director Affordable Housing
253.355.1521 sam.kasteler@berkadia.com
UT License #14126557-SA00
Sam Kasteler
INVESTMENT SALES
Bang Realty 513.898.1551 bor@bangrealty.com
Brian Brockman
IN COOPERATION WITH