Paul Kerley has served as owner and president of Commercial Property Resources, Inc., in Salem, Oregon, since 1983. The firm owns and manages 1,800 residential units in the state, with a total value of more than $100 million. One of Paul Kerley’s recent acquisitions is the River Crest Apartments.
With a purchase price in excess of $1 million, the multi-family apartment complex on Sunset Avenue North in Keizer represents a significant expansion of the Commercial Property Resources portfolio. The property consists of a total of 11 individual rental units: two two-bedroom units, and nine one-bedroom units.
In this transaction, handled through the buyer’s Kerley River Road, LLC, entity, the buyer was represented by principal broker Gabe Johansen and SMI Commercial Real Estate. The seller was represented by Tyce Nelson and Nelson Commercial Real Estate.
The area offers numerous amenities for residents, including fine restaurants, shops, and museums. The Salem Public Library provides an extensive collection of materials and services and the annual World Beat Festival at Riverfront Park in Salem’s largest multicultural event. The Willamette Town Center is among the area’s most popular malls, offering major retailers like Best Buy, Foot Locker, and Bath and Body Works.
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