HFO Brokers Sale of 53-Unit Apartment Community

June 8, 2023

PORTLAND, Ore. (June 8, 2023) – HFO Investment Real Estate (HFO), a leading real estate brokerage firm in the Pacific Northwest, is pleased to announce the sale of 53-unit Kenneth Alan Apartments in southeast Portland. The property sold for $7 million.

HFO broker Todd Tully represented the seller in the transaction and Adam Smith (also of HFO) represented the buyer in the sale from a private local investor to a new local ownership group.

Kenneth Allen Apartments was built in 1971 and features spacious one-, two-, and three-bedroom apartments spread among five buildings as well as off-street parking and a pool. The property is in the Creston-Kenilworth neighborhood, a desirable location in inner southeast Portland between SE Powell and Holgate boulevards, which makes it easy for residents to access entertainment, dining, retail, and transit on Portland’s inner east side.

“HFO's comprehensive expertise and breadth of experience proved invaluable in the sale of this property,” Tully said. “Our strategic approach and ability to foster meaningful connections led us to the right buyer, and our commitment to understanding and addressing the challenges the seller faced resulted in a win-win for all parties involved."

In the wake of the unanticipated hurdles presented by COVID-19 and subsequent tenant-oriented policies and legislation, the seller faced a significantly complex task managing the property. The compounding influence of local criminal activities, which exploited the instability during and after the pandemic, increased the challenge exponentially.

HFO used its extensive network to locate a group of qualified buyers who were poised to take advantage of the opportunity and who could reliably transact despite struggling occupancy and challenging market conditions.

“The challenges we encountered during the sale of this property highlighted the importance of having a seasoned team like HFO on your side,” said Smith.

About HFO Investment Real Estate

HFO Investment Real Estate is a leading real estate brokerage firm in the Pacific Northwest, specializing in the sale of multifamily properties. With over 20 years of experience, HFO has a proven track record of delivering successful transactions and exceptional service to clients. For more information, visit www.hfore.com. Learn more at www.hfore.com.

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HFO Quote

HFO is thoroughly professional.

Phil O., Oregon City, OR
For the eleventh year in a row, HFO Investment Real Estate is one of Portland's top philanthropic corporations. (2020)

The Portland Business Journal
My listing was in a smaller market and HFO did a great job of finding buyers. They also did an excellent job handling all the backroom financials and documents.

Lee S. Keizer, OR
HFO is a very well run brokerage and goes above and beyond in providing information to investors. I really like their roundtables, market updates and podcasts.

Rachel S., Menlo Park, CA
We do a lot of transactions and sometimes when there is an issue a broker will tell us "it's not my problem." Lee got in there and really helped beyond what was necessary.

Matt K., Manhattan Beach, CA
I appreciated Adam’s responsiveness, experience, and knowledge.

Itzik S., Eugene, OR
Great experience over the years, and I will be using HFO in the future.

Joel M.
Since 2006, HFO has consistently been recognized by CoStar as one of Portland Metro's PowerBrokers based on transaction volume. In March of 2021, HFO once again earned this distinction for the 2020 calendar year.

CoStar Group
One of the best firms at seeing a deal from the owner's perspective.

Matt K., El Segundo, CA
We had a wonderful experience with HFO - excellent on everything. They are very responsive. Greg did a great job.

Leonard G., Portland, OR
Greg is great. I'm very happy with him, and the whole HFO team.

Leslie M., Pacific Palisades, CA
My experience with HFO was very, very positive.

Lecia K., San Francisco, CA
There were many landmines in my transaction, and I am glad to have hired HFO because they handled it well. HFO is the only company my wife and I would recommend.

John E., Mesa, AZ
Deep knowledge of the market and personal integrity of the brokers sets HFO apart for our family. As someone who spent 40 years in apartment brokerage, I believe HFO is far ahead of its nearest competitor.

Dean M., Fort Denaud, FL
I like that HFO focuses solely on multifamily and does it really well. I like the blog and appreciate HFO-TV. HFO has the experience and focus to get me the best multifamily deal. I wouldn't use anyone else.

Kenny G., West Linn, OR
HFO is the best boutique real estate brokerage in Portland.

Max S., W. Hollywood, CA
Greg is great, friendly, interesting, timely in calls and checks in regularly. Honesty is #1 and Greg has that going for him.

John N., Portland, OR
HFO is professional, knowledgeable and honest. They get it done.

Michael K., San Francisco, CA
HFO doesn't lead sellers into unrealistic expectations of pricing. They are exceptional and advocate for both buyers and sellers' interest.

Doug R., Reno, NV
I am such a fan of HFO. HFO is night and day better than the firm we used before and I am 100% loyal to them.

Sue C., San Jose, CA
True professionals with unparalleled degree of expertise in the Portland multifamily space.

Boyd W., Vancouver, WA
Every time I had a problem Todd took care of it. The level of service at HFO is excellent.

Paul H., Lake Oswego, OR
Efficient and go-getters. Didn't wait for things to happen, they were active.

John P., Redmond, WA
HFO does a great job on the web and email keeping owners posted on the whole political scene.

Richard R., Palm Desert, CA
I have done 5-6 deals with HFO, and things have gone so well. I use HFO exclusively.

Greg W., Vancouver, WA
I have brokers calling me all the time. Greg Frick is the only one I’ve talked with who left me feeling smarter after the conversation. I’ve become a loyal client of HFO.

John E., Portland, OR

HFO Brokers Sale of 53-Unit Apartment Community

HFO Quote

HFO is thoroughly professional.

For the eleventh year in a row, HFO Investment Real Estate is one of Portland's top philanthropic corporations. (2020)

My listing was in a smaller market and HFO did a great job of finding buyers. They also did an excellent job handling all the backroom financials and documents.

HFO is a very well run brokerage and goes above and beyond in providing information to investors. I really like their roundtables, market updates and podcasts.

We do a lot of transactions and sometimes when there is an issue a broker will tell us "it's not my problem." Lee got in there and really helped beyond what was necessary.

I appreciated Adam’s responsiveness, experience, and knowledge.

Great experience over the years, and I will be using HFO in the future.

Since 2006, HFO has consistently been recognized by CoStar as one of Portland Metro's PowerBrokers based on transaction volume. In March of 2021, HFO once again earned this distinction for the 2020 calendar year.

One of the best firms at seeing a deal from the owner's perspective.

We had a wonderful experience with HFO - excellent on everything. They are very responsive. Greg did a great job.

Greg is great. I'm very happy with him, and the whole HFO team.

My experience with HFO was very, very positive.

There were many landmines in my transaction, and I am glad to have hired HFO because they handled it well. HFO is the only company my wife and I would recommend.

Deep knowledge of the market and personal integrity of the brokers sets HFO apart for our family. As someone who spent 40 years in apartment brokerage, I believe HFO is far ahead of its nearest competitor.

I like that HFO focuses solely on multifamily and does it really well. I like the blog and appreciate HFO-TV. HFO has the experience and focus to get me the best multifamily deal. I wouldn't use anyone else.

HFO is the best boutique real estate brokerage in Portland.

Greg is great, friendly, interesting, timely in calls and checks in regularly. Honesty is #1 and Greg has that going for him.

HFO is professional, knowledgeable and honest. They get it done.

HFO doesn't lead sellers into unrealistic expectations of pricing. They are exceptional and advocate for both buyers and sellers' interest.

I am such a fan of HFO. HFO is night and day better than the firm we used before and I am 100% loyal to them.

True professionals with unparalleled degree of expertise in the Portland multifamily space.

Every time I had a problem Todd took care of it. The level of service at HFO is excellent.

Efficient and go-getters. Didn't wait for things to happen, they were active.

HFO does a great job on the web and email keeping owners posted on the whole political scene.

I have done 5-6 deals with HFO, and things have gone so well. I use HFO exclusively.

I have brokers calling me all the time. Greg Frick is the only one I’ve talked with who left me feeling smarter after the conversation. I’ve become a loyal client of HFO.