Monday, January 26, 2009

Portland at Top of List Among Popular Destinations For Movers

Portland, OR once again appears on a list of top destinations for movers. A recent survey done by lists Portland, OR at the top among the likes of Seattle, WA, Denver, CO, Phoenix, AZ and Las Vegas, NV. This is the latest but certainly not the only list where Portland has landed a top ten spot. Other lists include CNNMoney's "100 best places to live and launch" and SustainLane's "2008 US City Rankings" (please see links below).

Portland landlords can breathe a sigh of relief knowing that the availability of jobs isn't the only factor taken into account when people are searching out a place to call home. "The City of Roses" has developed a reputation for its ability to maintain a small town feel while offering all the amenities of a big city. The livability of Portland has contributed greatly to its healthy rental market which, according to Metro Multifamily Housing Housing Association, had maintained a vacancy rate of 3.58% through Fall 2008.

Thursday, January 8, 2009

Northwest Economic Forecast Presented to Clients of Hagerman Frick O'Brien

Economist John W. Mitchell presented this slide show at today's Apartment Investor Roundtable sponsored by HFO Investment Real Estate and Bankers Mutual. To receive a complete copy of this presentation, please contact Greg Frick at

John W. Mitchell is the owner of M & H Economic Consultants. John was a professor of economic at Boise State for 13 years before joining U.S. Bancorp in July, 1983. For 15 years he was chief economist of US Bancorp and for 9 years after that was the economist for the western region of US Bank. He is a columnist for Oregon Business Magazine and has been making economic presentations on the nation and our region for more than 38 years.

Mark D. Barry releases 2009 Apartment Market Forecast at HFO Roundtable

At the HFO Investor Roundtable today, Mark D. Barry presented his 2008 apartment market recap and his 2009 apartment market forecast. Here are the slides from that presentation. To receive a complete copy of this presentation, please contact Greg Frick at

Mark D. Barry, is an MAI real estate appraiser who specializes in apartment appraisal work in the Portland-Vancouver metro area. He has completed over 4,700 apartment appraisals since he began as a fee appraiser in 1982. Mr. Barry holds a BA from the University of California at Berkeley, and an MBA in Real Estate from American University in Washington DC. He is author and editor of the Barry Apartment Report.

Wednesday, January 7, 2009

HFO Makes End-Of-Year Corporate Philanthropic Contributions

At the close of each brokered apartment sale, HFO makes a contribution in honor of our clients to their charity of choice.  In addition to thousands of dollars distributed each year in that way, at the end of the year all HFO partners and staff pick two of their own favorite charities for an end-of-year contribution.

HFO is pleased to announce that our 2008 charities of choice received nearly $10,000 distributed among the following charities:

Monday, January 5, 2009

39 Unit New Mixed-Use Apartment Construction in NE Portland Sells For $2.6 million

The 39-unit Elaine Station Apartments located in NE Portland have sold for $2.6 million or $66,667 per unit. This 2008 construction is a mixed use retail / residential development located near MAX light rail. The buyer was RDC Acquisitions LLC of Irvine, California and the seller was Bay Bank of Vancouver, Washington. HFO Investment Real Estate represented the parties.

Sold! 90 Unit Stonehenge Apartments SE Portland $4.4 million

HFO Investment Real Estate is pleased to announce that the 90-unit Stonehenge Apartments in SE Portland have sold for $4.4 million or approximately $48,889 per unit. The multifamily property occupies over 2.5 acres and features a clubhouse, basketball court and pool. The buyer was CIC Stonecreek LLC and the seller was Stonehenge / Milestone LLC. HFO commercial real estate brokers represented the parties.