Tuesday, June 18, 2019

Sold! 40 Units in NW Portland, Oregon

This 2018-property features a diverse mix of units including some studios -- a rarity for suburban apartments. All flats include a private deck and an in-unit washer/dryer. The site has ample off-street parking. This highly desirable Washington County location is one mile north of Tanasbourne Town Center and adjacent to Portland Community College's Rock Creek Campus.

The asset was taken to market after completion and management companies were switched during lease-up, which resulted in limited historical operations and a longer timeline to full occupancy.

HFO successfully found a buyer seeking new product that was able to offset the impact of the property's limited financials.

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