Happy Thanksgiving from HFO
Thanksgiving is not something we feel once a year...Sold! 24 Units in Gresham
HFO is pleased to announce the sale of the Fircrest Apartments in Gresham. The seller of this 24-unit apartment community selected HFO to handle the sale of the property based on the firm's...Metro Council Votes Not to Expand Urban Growth Boundary Until At Least 2018
The Metro Council voted unanimously last week against expanding the Urban Growth Boundary, making this the first time in 10 years that no land was added for future development.The issue will be...Seattle Apartment Market Is Nearing $4 Billion in Sales for 2015
The greater Seattle market continues to post record setting numbers with apartment sales. According to Dupre & Scott, the average price per unit is a little $170,000 for 2015. Over 19,000 units...Newberg and Tualatin Are Among Finalists For Economic Development Prize - Portland Business Journal
According to information from Carr Biggerstaff, board chair of the Chelam Valley Chamber of Commerce in a Portland Business Journal report, Newberg is one of 50 quarterfinalists in the contest and...Brian Gerritz on Practical Ramifications of Requiring Seismic Retrofits to Unreinforced Masonry Buildings
HFO marketing director Aaron Kirk Douglas interviews Pavilion Construction's President Brian Gerritz about a City of Portland plan to retrofit old brick buildings that appears headed for the City...U.S. Multifamily Rents Flatten in October
The YardiMatrix report for October was the first survey of 2015 in which rents did not increase month-over-month.
Out of 111 markets tracked by YardiMatrix, Portland remains number one in rent...Seattle Microunits of 120-235 Sq. Ft. Named Finalist for Affordable/Workforce Housing Award
The Seattle Daily Journal of Commerce reports that the "Base Capitol Hill" microunits, which range in size from 120-235 SF and rent for $800-$1,000 per month, have been named a finalist in the Jack...Sold! 154-Unit Fieldstone Luxury Apartments in Fairview
The Fairview apartments sold for $20,800,000. The owner had worked with HFO in the past and decided to re-engage the firm for the sale of their property due to the current state of the market and...How Do You Know What Surveys Are Right?
Normal 0 false false false EN-US X-NONE X-NONE ...U.S. Census: Portland Vacancy Rate Increases Slightly
The U.S. Census Bureau reported today that the rental vacancy rate for the Portland-Vancouver- Hillsboro metro area was 5.1 percent for the third quarter of 2015. Despite local survey reports to...Portland Listed as Nation's Rent Growth Leader at 14.3%
MPF Research reports on the latest quarterly results which put Portland and the rest of the west on the rent growth leaderboard.
HFO Investment Real Estate. Multifamily brokerage sales serving...Security Properties Going Strong on Apartment Projects in Bellevue
The Puget Sound Business Journal is reporting that just months after Security Properties broke ground on a 5-building 309-unit project in Bellevue's $2.3 billion Spring District, it's submitted plans...Portland Approves 90-Day Notice For Rent Increases, Evictions
On Wednesday, landlords were only required to provide tenants one month's notice for rent increases in the City of Portland. That has changed.
The Portland City Council voted yesterday to require...Detailed Breakdown of Survey Results for Vacancies and Rents for Oregon, SW Washington
According to the fall 2015 MultifamilyNW Apartment Report, vacancies in cities and neighborhoods stood at rates varying from 1.4% to 3.7%. Rents per square foot increased at an overall average rate...Additional $60 Million Affordable Housing Funds
At this mornings MultifamilyNW breakfast, Multnomah County Chair Deborah Kafoury said an additional $60 million in funding for affordable housing to be officially announced soon.
According to...Breaking... MultifamilyNW Releases Fall 2016 Vacancy and Rent Rates
In its Apartment Market Report released this morning, MultifamilyNW relorts the fall 2015 rent and vacancy rates as follows:
Portland/Vancouver vacancy factor declined to...City of Portland Approves Housing Emergency Plan
The Portland City Council approved a housing emergency plan on Wednesday, which enables leaders to bypass city codes to allow temporary emergency homeless shelters, to open day-storage areas, and to...HFO-TV: Current Trends in Multifamily Lending and Finance with Mark Paskill
HFO Partner Greg Frick discusses the current multifamily lending environment with Mark Paskill of Intervest (a subsidiary of Umpqua Bank).
Property Management Insider recently published its...Metro President: No UGB Expansion Needed
Stating that the area has enough available land to accommodate the next 20 years of growth, Metro will not expand the Urban Growth Boundary, according to Metro President Tom Hughes.
Metro released a...On HFO-TV: The Latest Economic Update for the Clark County/Vancouver Area
Greg Frick interviewed Scott Bailey, a regional economist with Washington State, about the Clark County/Vancouver area economy. Here's what we learned.
HFO Investment Real Estate. Multifamily...GlobeSt.com: Portland Rents up 12% as U.S. Apartment Rent Growth Sets New High
Growth continues to be dominated by metro areas in the Pacific Northwest and the Western lifestyle markets. Portland (12.0%), Denver (11.8%) and San Francisco (11.7%) all saw double-digit growth in...HFO Adds Director of Operations
HFO Investment Real Estate (HFO) is pleased to announce the hiring of Donna Brunner in the newly-created position of Director of Operations.
With over 23 years of real estate experience, Brunner is...Seattle Developer Plans 102-Story Apartment Skyscraper
The 102-story building which would be home to 1,200 apartments at 701 Fourth Avenue, would be the West Coast's tallest building and the eighth tallest in the country. The apartments would sit atop a...Who's Hiring in Commercial Real Estate?
We are looking for a unique, energetic, intelligent and passionate individual to join our sales team. The right person will value the relentless pursuit of each clients' success.
If you have...
Case Studies Russellville Commons - $31,625,000
Built: 1999 - 283 Units
Russellville Commons is a 283-unit apartment property located in Portland's east-side commercial corridor along Interstate 205. The property was completed in 1999 and the seller was the original developer.
The Challenge and Results:
The asset is unique for the area of Portland where it is located. There are few large institutional apartment properties in this sector. National investors typically focus on specific submarkets in the Portland metro area. Russellville Commons is located outside these submarket areas.
The seller had defined timelines in which the property needed to be sold. HFO worked skillfully with the seller to meet their timeframes. Using established relationships and knowledge of Portland-area investors, HFO located the strongest buyer who could meet the seller's timeline. The buyer was an institutional investor who wanted to enter the Portland market.