News


News Report: The Hidden Reason Behind Seattle's Increasing Housing Costs
Seattle's alternative weekly, The Stranger, reported last week that parking spaces cost between $20,000 and $50,000 each. According to the article, Seattle rents are an average of $246 higher than...

Portland, OR Is Number One In Rent Growth Out of 101 Markets Surveyed -Yardi
Multifamily rent growth is not showing signs of slowing down. In July's Yardi Matrix Montly Report, apartment rents rose a 6.5% year-over-year, up 20 basis points from June and the highest rate...

Just Listed! 65 Units near Spokane, Washington
HFO is pleased to announce the exclusive listing of the Lakeside Apartments - a 65-unit apartment community constructed in 2009 in Medical Lake, Washington. The Lakeside' s 65 units consist of a...

U.S. Apartment Sales Set To Outperform 2006
In the first half of 2015, $63.2 billion worth of apartments changed hands, a 37.6% increase compared with last year, according to Real Capital Analytics (RCA). The second quarter produced $29.7...

Census Report: Q2 Portland's Apartment Vacancy Rate Ranked Nation's 10th Lowest
The U.S. Census Bureau reported today that the rental vacancy rate for the Portland-Vancouver- Hillsboro metro area was 3.5 percent for the second quarter of 2015, up slightly from 2.7 percent for...

Metro COO Recommends Against Expanding Portland Metro Urban Growth Boundary
In an interview today for HFO-TV, Ted Reid, Metro Urban Growth Boundary Project Manager announced that Metro's Chief Operating Officer has recommended against expansion of the Urban Growth Boundary...

Multifamily's Perfect Storm: Invest in Secondary and Tertiary Markets - MHN Online
"To be successful, you need to go beyond the metro area...

More Claims Expected on Disparate Impact After Supreme Court Ruling
The US Supreme Court ruled 5-4 that it's possible for liability to exist even without intent. The case was Texas Department of Housing and Community Development v. The Inclusive Communities Project,...

City of Seattle: Record Breaking Apartment Activity
The Downtown Seattle Associaton recently published their mid-year development guide stating there has not been this much development in Seattle in more than a decade. There are 106 projects currently...

Portland Q2 2015 Rent Growth Leader With Effective Rents Growing 11.3%
MPF Research reports today that metros in the Western region of the U.S. continue to dominate the apartment market leaderboard, including a few new additions that had been lagging. Oakland, CA ...

MPF Research: Apartments Show Best Rent Growth in 15 Years
New resident rents rose 5.2 percent over the 12 months that ended in the second quarter. That’s the biggest rent hike since 1999-2000, according to the latest data from MPF Research, based in...

HFO-TV: HFO's Mid-Year Apartment Report Now Online
Catch up on the latest information in the Portland, Oregon metro apartment market in our recent apartment market update for multifamily investors. HFO Investment Real Estate. Multifamily brokerage...

What Is the Vision for Portland's Central Eastside?
Old industrial buildings being converted into creative office space, new trendy restaurants and breweries opening up like they are going out of style, parking spaces vanishing in the blink of an eye...

Seattle Times: Apartment rents in King, Snohomish counties jump 5 percent in 3 months
Seattle Times Articles: Apartment rents in King, Snohomish counties jump 5 percent in 3 months. July 2, 2015 Rules preserving city views set up clash among towers competing to be first, biggest...

Happy Independence Day from HFO
"As I look back at past Fourth of July holidays, I think about the memories created with family and friends. The picnics, fireworks displays and flags flying high always remind me of how grateful I...

Seattle Trophy Property Sells for $32 Million More Than Purchased Three Years Ago
Image Source One Thousand Eighth Avenue is a 356-unit, 66-year-old apartment complex on Seattle's First Hill. The exterior of the property pales in comparison to the contemporary, interior...

Just Listed! 44 Units + Retail in Portland's Kenton Neighborhood
The three-story Kenton Apartments is a vintage building with a diverse unit mix including one- and two-bedroom flats, studios, and SROs with shared baths. Two ground floor commercial spaces are fully...

New Listing! 22 Units in Rainier, Oregon!
The Rainier Apartments is a charming garden-style asset consisting of six (6) 1-bed 1-bath and sixteen (16) 2-bed 1-bath units. Investors will find The Rainier Apartments a solid cash flow...

New Listing in Portland!
Concord Village - E Portland - 30 Units Concord Village is listed at $2.5 million and offers a diverse unit mix of spacious one-, two and three-bedroom apartments that are attractive to Portland' s...

Report: U.S. Apartment Market Rents Averaging 6.3 Percent Year-Over-Year Increase - Portland at 15.1 Percent
Santa Barbara, Calif.—The June 2015 edition of Matrix Monthly, a report on U.S. apartment market trends from Yardi®, documents a robust 6.3 percent year-over-year increase in average...

Salem Apartment Portfolio | Five Properties Totaling 65 Units | $3.195M
HFO is pleased to announce the listing of 65 units in Salem, Oregon. This amazing portfolio offers investors an opportunity to add-value and create alternative exit strategies. Rents are...

Investment Property Won't Sell? ... Perhaps It's Not The Price.
 By Trevor T. Calton, MBA, Senior Broker When investment real estate is hot, or even when it’s slow, sometimes you miss the market and have a property sit too long, losing momentum and buyer...

Congratulations to HFO's National Volunteer Award Nominee
HFO Senior Director of Marketing and Chief Customer Officer, Aaron Kirk Douglas, has been selected as a finalist in MENTOR: The National Mentoring Partnership and Cabot Creamery Cooperative’s cruise...

GlobeSt: No One Gains if 1031s Are Repealed
G. Joseph Consenza, vice chairman of The Inland Real Estate Group was interviewed at RECon 2015 recently in Las Vegas.  Consenza will explain:1031's historical importance to the industry and...

No Surprises Here: PSU Center for Real Estate's Spring 2015 Report
The PSU Center for Real Estate released its Spring, 2015 Multifamily Report this week. It's a nice summary of data reported here over the first few months of this year. Particularly interesting...


Case Studies

Museum Place - $55,300,000

Year Built: 2003
Location: Downtown Portland, OR
Units: 140 apartments plus 49,242 SF retail

Sale Date: 12/30/2011
Sale Price: $55,300,000
Financing: New debt

The Property:
Museum Place is an institutional grade property located in downtown Portland. The property is mixed use, including both retail/commercial space, along with market rate and income restricted apartments.  

The Challenge and Results:
A large portion of the property included a single-tenant retailer. The challenge lay in properly valuing the portions separately and educating apartment investors on the retail portion of the property. The marketing goal was achieved by positioning that captured the attention of apartment investors in order to obtain the strongest cap rate.

Museum Place was marketed unpriced. The call for offers generated significant interest in this unique property. Through active marketing efforts, the sale price exceeded the original anticipated sale value. The property was purchased by a national institutional buyer making an entry into the Portland market. 

Featured Article
The Central Eastside's Skyscraper
March 26, 2015
by Lee Fehrenbacher, HFO Broker

HFO Investment Real Estate LLC
2424 SE 11th Ave
Portland, Oregon 97214
Phone: 503.241.5541
Fax: 503.241.5548

The Meridian - $8,500,000
Read Full Case Study

I have been extremely satisfied with HFO from initial notification of listed properties to their informative Apartment Investor Roundtable events.  They are very good to work with.  I am a customer for life!

Craig Arrowsmith, Portland, OR