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10-Property Urban Vintage Portfolio Sale | 236-units

10-Property Urban Vintage Portfolio Sale | 236-units

Challenge: 
The Urban Vintage Portfolio is a collection of 10 multifamily buildings in downtown and the close-in Eastside of Portland, built in the late 19th and early 20th centuries.

Acquired by a family over several generations, the portfolio includes buildings of various sizes, conditions, and locations – many of which are iconic facades in downtown Portland. Due to the unique ownership structure of each property and the diverse investment goals of the family members involved, selling the assets individually would have significantly limited the family’s reinvestment options.

To maximize proceeds, the family needed help managing the nuances of 10 buildings and 10 separate transactions simultaneously.

Action:
The sellers engaged HFO Investment Real Estate based on its proven track record of achieving record sales prices on similar vintage multifamily assets and its long-standing relationships in the industry.

By focusing on the more extensive portfolio, HFO was able to position each asset as an exceptionally rare opportunity to acquire 236 “value-add” units in the heart of Portland. This opened the properties to a bigger pool of professional multifamily buyers and helped HFO push value across the entire portfolio.

Results:
HFO presented the Urban Vintage Portfolio to a pre-qualified investment group out of California with a proven reputation for closing. While some investors have turned away from Portland in recent years due to political, societal, and pandemic-related challenges, HFO knew the California group was strategically targeting supply-constrained markets and was bullish on Portland’s long-term outlook.

Collaborating closely with the buyers and sellers, HFO helped both parties navigate a complex transaction involving:

  • Ten simultaneous timelines with nuanced challenges on each transaction.
  • The completion of rolling physical inspections on all buildings within the first 30 days of escrow.
  • Close coordination with management to achieve lender-required leasing benchmarks before close.

HFO’s actions allowed the sellers to push the value on the entire portfolio in one fell swoop instead of ten smaller transactions over time – giving the family more options to successfully reinvest their equity. HFO was a valuable resource for the buyers in quickly acquiring one of the largest close-in portfolios in Portland – an endeavor that would have otherwise taken years.


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