The
Latitude Apartments is a gated apartment community consisting of 210 apartments
with an average unit size of 1,133 square feet. Built in two phases between
2008 and 2014, the sale represents the second largest apartment transaction for
Clackamas County this calendar year.
Latitude
Apartments consists of 33 three-story apartment buildings and one clubhouse on
6.89 acres across from Clackamas Town Center − one of the largest
regional malls. The transit-oriented development is convenient to I-205 and easy
walking distance to MAX light rail and several bus lines.
“Happy
Valley is an affluent, educated area with high employment in healthcare,
professional services and retail,” said HFO partner Cody Hagerman. “Latitude
Apartments is a great example of well-constructed condo-quality housing that is
in exceptionally high demand.”
Latitude Apartments offers its residents numerous community
amenities including a dog run and grooming station, electronic parcel lockers,
bike repair station, fitness facility, pool, basketball court, and direct-entry
garages.
The seller was Bay Area investment firm The Reliant Group and the
buyer was global real estate investment company Kennedy Wilson. The sale
represents a price per unit of $276,190 per unit or $243.76 per square foot.
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