Thursday, February 11, 2016

Sold! 198-Units in Vancouver, WA for $35.2 Million

HFO is pleased to announce the sale of the Meadows at Cascade Park. At $177 per-square-foot ($178,030 per unit), the sale establishes one of the highest per-square-foot prices in Vancouver in the past 12 months.

"Renter demand for apartments outside of the urban core continues to drive vacancies lower, and rents higher, in markets like Vancouver and Gresham — and investors have clearly taken notice,” said HFO partner Tyler Johnson.

The seller was a Canadian investment firm with several properties in the metro region. The buyer was a California-based who currently owns approximately 3,000 units in the Pacific Northwest.

HFO is thankful to both parties for giving us the opportunity to make this a successful transaction.

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