Monday, October 25, 2010

The Latest Apartment Vacancy & Rent Rates for Oregon & SW Washington Are Released

The Metro Multifamily Housing Association (MMHA) has released its fall 2010 report that includes rent survey data for Portland/Vancouver metro area along with Salem, Eugene/Springfield and Bend/Redmond.  It also includes the latest vacancy rate data and detailed neighborhood by neighborhood rent breakdowns for the Portland metro area.

Click here to download the report.

HFO encourages apartment owners and investors in Oregon and SW Washington to become active members of the MMHA! Learn more about the many features and benefits of becoming an MMHA member at

Apartment Fundamentals Impress Analysts: Owners Are Back Making Deals

Looking back on three consecutive quarters of improving fundamentals, researchers say the multifamily market hit the bottom of the cycle in the fourth quarter of 2009 and is leading the commercial property sectors in recovery. Apartment prices bottomed out in the third quarter of 2009 and have been climbing since the fourth quarter, according to the Moody’s/REAL Commercial Property Price Indices. Read More at the National Real Estate Investor.

Wednesday, October 20, 2010

Forbes Ranks Oregon Among Top States for Business

Forbes Magazine has ranked Oregon among the top states for business and careers.  This year Oregon ranked sixth, up from #10 last year.  The study is based on six categories: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life.  Oregon ranked No. 4 for labor supply, No. 12 for growth prospects, No. 18 for business costs, No. 14 for economic climate, No. 21 for quality of life and No. 34 for regulatory environment. Click here to see the full list.

HFO Announces $10.625 million Sale of 132-Unit Apartment Complex in Clackamas, OR and Results of Apartment Investor Survey - CNBC

HFO Announces $10.625 million Sale of 132-Unit Apartment Complex in Clackamas, OR and Results of Apartment Investor Survey - CNBC

Intel to Invest Billions in Oregon, Creating Thousands of Jobs

Speculation over a massive investment in Oregon by Intel ended yesterday with the company's announcement that it would spend $6-$8 billion in the state.  More from The Oregonian.

Former HUD Secretary Cisneros: Five Factors Will Shape the Industry's Future

At the annual Multifamily Executive Conference held in Las Vegas last week, the closing keynote speaker was former U.S. Department of Housing and Urban Development Secretary Henry Cisneros.  He offered up his insights -- drawing heavily on his current experience as chairman of CityView, a Los Angeles-based developer of affordable housing currently raising money to acquire and redevelop multifamily housing in the Southwest, the Bay Area, D.C., and the Boston-New York corridor.

Among other things Cisneros said:
  1. Stick with apartments. They are a great investment. More than 70 percent of pension fund managers rank it as the highest return sector in real estate.
  2. Follow the institutions. For example, right now, many of the private funds he's talking to are looking to target student housing or university-adjacent housing.
  3. Demographics, particularly the Latino population, which will account for 50 percent of the population growth between now and 2030, will dictate different types of homes. Families, particularly those that are younger and larger, will outnumber the more nuclear, older families the industry is used to seeing.
  4. Energy efficiency is vital to acquisitive and development strategies today and must be approached as an necesssary investment.
  5. There is no better time to act than now. "For the past two years, we've heard that whoever would be standing at the end of the downturn would be well-positioned to move forward. That time has come. Builders: It's time to build. Buyers: It's time to buy. Investors: It's time to invest."
Cisneros ended his remarks by adding: "There's work out there to be done, and it's time for those who are able to move to take action. There will be great rewards for those first-movers."

Read more on the conference, where optimism abounded this year, online at Multifamily Executive.

Monday, October 18, 2010

Multifamily CEOs Paint Bright Industry Future

Last week was an upbeat one in Las Vegas as apartment owners were bullish on apartment futures.  “I don’t recall a time in the last 40 years that I’ve been more optimistic about our prospects over the next several years,” said industry veteran Steve Bell, CEO of Bell Partners, which has a $5 billion portfolio that includes market-rate and seniors apartments. Read more at Multifamily Executive Magazine.

Thursday, October 7, 2010

The Glenn Featured in Today's Daily Journal of Commerce

An apartment complex in Portland’s Hawthorne neighborhood recently went up for sale. The Glenn, at 3268 S.E. Hawthorne Blvd., is a 95-year-old vintage building with modern amenities. Located in a hip Southeast Portland area, it’s a rare type of building to be on the market. “It’s on the 50-yard line of Hawthorne,” said broker Gregory Frick with Hagerman Frick O’Brien. Read more about The Glenn in today's Daily Journal of Commerce > > >

Wednesday, October 6, 2010

REIS Reports: Apartment Vacancy Rate Drops Sharply in Third Quarter

The U.S. apartment market recovery was in full swing in the third quarter as vacancies dropped sharply and rents increased because tenants signed leases in belief they would shortly find jobs.

REIS reported today that the national vacancy The national vacancy rate fell to 7.2 percent from 7.9 percent as renters soaked up 84,382 more units than were vacated. Read the full story at Bloomberg News. Reports Spike in Traffic and its affiliate sites (including and report a 65 percent increase in traffic during August 2010 compared with the same month in 2009, according to the company, which specializes in providing information to apartment seekers. This finding matches other recent reports that indicate demand for apartments is increasing nationwide. Read More at Multi-Housing News > > >