Portland, OR HFO Investment Real Estate (HFO) is pleased to announce the sale of the 18-unit Hollyhurst Apartments. Built in 1960, the vintage property traded for $2.75 million or approximately $152,777 per unit.
Hollyhurst is a low-density property, is off SE Holgate and SE 39th, in the Woodstock neighborhood. The property is nicely landscaped and units have front and back entrances. All of the apartments were most recently updated in 2008.
Every project has a story, and Hollyhurst is no exception. In this case, the HFO team collaborated to activate its extensive network of relationships with investors and brokers up and down the West Coast. With its laser-focused specialization on multifamily, the HFO team was able to quickly schedule tours of the asset for 15 prequalified investors. The property garnered an offer from a motivated investor above the asking pricean offer that was contingent-free on terms incredibly favorable to the seller.
Buyer and sellers were Portland-area owners of multifamily properties. HFO represented the parties in the transaction.
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Portland-based HFO was founded in 1999 and specializes in the apartment sector of the commercial real estate market. The company is known for more than its ability to attract the largest possible pool of buyers. By offering additional client benefits including complimentary industry-specific events, market news, and original video programming via HFO-TV, HFO is a thought-leader within its category. From its inception, HFO has operated in sharp contrast to most of its industry competitors, using intra-office collaboration to provide service to more customers through sales velocity and loyal client relationships. Build your legacy(SM) with HFO Investment Real Estate. Learn more at www.hfore.com.