Friday, April 22, 2016

Sold! 20 Units in Newberg, Oregon

HFO is pleased to announce the sale of the Boston Square Apartments in Newberg, Oregon.

In this case, the investor was looking to exchange up to a property closer in to the Portland core. HFO was selected on the strength of its marketing platform and commitment to help locate an exchange up-leg.

HFO priced the property aggressively - especially for a tertiary market - and was able to deliver on those pricing expectations with several offers. Two extensions were built into the closing timeline in order to give the seller more time to find a 1031 exchange, and she was ultimately able to put an exchange property under contract before the closing date.

Boston Square sold for $1.625 million.