Location: Salem, Oregon

Fisher Park Apartments is a 26-unit garden-style multifamily development located in Salem, Oregon. This project began as a raw land acquisition and was successfully annexed into the city limits, rezoned, and approved for multifamily use. Developed from the ground up by Skyline Builders—construction partner of Stack Asset Group—the asset reflects a fully executed vertical integration strategy, from entitlement to delivery. The community offers modern, efficient floorplans in a quiet residential setting, catering to the area’s growing demand for quality workforce housing.

The project was financed through internal equity and bank debt, and remains a long-term hold within the portfolio. With stabilized occupancy, minimal maintenance requirements, and a strong location near local employers and schools, Fisher Park is positioned for long-term cash flow and appreciation.

Property Details

• Type of Property: Garden-Style Multifamily

• Status: Completed

• Year Built: 2021

• Total Units: 26

• Unit Mix: 1BD & 2BD floorplans (final mix TBD)

• Target Tenants: Working professionals, families, and long-term residents

Investment Overview

• Investment Date: December 12, 2021

• Exit Date: Still Held

• Initial Investment Amount: TBD

• Projected Profit: TBD

• Projected ROI: TBD

• Hold Strategy: Long-term hold with stabilized operations

Capital Structure

• Equity: Internal capital from project sponsors

• Debt: Bank debt for construction and permanent financing

• Leverage Strategy: Moderate leverage with retained ownership and execution control

Development Strategy

• Land Acquisition & Annexation: Raw land successfully annexed into the city and rezoned for multifamily

• Entitlement: Conditional Use Approval secured for 26-unit development

• Construction: Ground-up development by Skyline Builders with efficient, durable design

• Site Improvements: Landscaping, private parking, and infrastructure completed for long-term performance

• Stabilization: Professionally managed with high occupancy and low turnover

Investment Thesis

Fisher Park Apartments represents a full-cycle execution from raw land acquisition through entitlement and construction, demonstrating the value of vertically integrated development. With stabilized rents, low operating costs, and favorable long-term market trends in Salem, the property is structured to deliver consistent returns and serve as a long-term income-producing asset in the portfolio.