Class of Project: Condominium Conversion

Project Profile: First Time Homeowner

Financing: Commercial Loan Originated by Umpqua Bank

Limited Partner(s): Individual Private Investors

Meadow Wood Condominiums was a conversion of an 85 unit apartment complex to the condominium form of ownership and was the first major conversion project in Southern Oregon. Located in desirable east Salem, the original price points ranged from $120K – $180K and offered first-time home buyers a chance to buy a home when the median price was over $400K. A large scale renovation was undertaken prior to conversion and the property was fully absorbed into the local market.