News


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...

Is Paying $40 Million for an Empty Apartment Building in Seattle Crazy?
Not according to CWS Capital Partners, a real estate investment management company out of Southern California. The Puget Sound Business Journal reported CWS Capital Partners purchased the Lenora...

On the Market: NE Portland Tri-Plexes
HFO is pleased to offer these two tri-plexes in NE Portland. These units include: Four units with attached garagesLarge basements in all unitsNew efficient gas furnacesNew gas water heaters Washers...


Case Studies

Hawthorne 44 - $5,500,000

Built: 2009 - 27 Units

The Property:
Hawthorne 44 is a 27-unit apartment property located in Southeast Portland, Oregon. These unique apartments offer condo-quality construction with over-sized units and high-end finishes in the desirable and close-in Hawthorne District.  Unit amenities include gas fireplaces, cherry hardwood floors, granite countertops, oversized walk-in closets and in-unit washers and dryers. 

Challenges:
Hawthorne 44's price per unit was at the extreme high end of the range in the market. The price point with this number of units ruled out most institutional buyers. 

Results:
HFO's in-depth knowledge of the market and nuances of the close-in Southeast market allowed us to source a private equity buyer from Eugene. This was their first multifamily purchase in the Portland market. HFO's ability to source both institutional and private capital helped bring an excellent price for the seller -- a 5.5% cap rate and a price-per-unit of $203,704. The seller was a San Diego investment fund and the buyer was The Willamette Company of Eugene. HFO represented the parties in the $5.5 million all-cash sale.
Featured Article
Market Trends Affecting Lender Motivation
January 8, 2015
by Mark Paskill, VP Intervest Bank

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

Portland Portfolio - $34,300,000 Beaverton Apartment Properties
Read Full Case Study

Great knowledge of local market, and of various local buyers. Thanks!

Darryl White, TDC Properties, Marina Del Ray, CA