$3.5 Million for Corporate Woods in Vancouver, Washington

HFO is pleased to announce the sale of the 47-unit Corporate Woods Apartments for $3.5 million or $74,468 per unit. Built in 2003, Corporate Woods offers (2) studio apartments, (16) spacious 1-bedroom 1-bath units and (29) 2-bed 2-bath units. Each unit has a fireplace, a patio or deck, and extra storage space. Additional amenities include full size washers/dryers, walk-in closets and tiled entries, kitchens and baths.

National Real Estate Experts Predict Bright Future for Portland Multifamily

At the June 5, 2008 PSU Center for Real Estate annual conference, speaker Christopher Lee, the acknowledged leading futurist within the real estate industry provided a forecast of Portland real estate trends for the next several years. He said that 2008-2030 will be the age of real estate for five reasons. Most of his slides (as they relate to multifamily) are presented here for your review.

Portland 19th in Nation for Apartment Permits

The National Apartment Association reported Portland metro 19th for new multifamily unit permits among the top 50 multifamily markets in 2007. A total of 4,705 units – including condos – were permitted. This represented an minor addition of 3.34 multifamily units for each 100 additional jobs created. Renters make up approximately 1/3 of the population. With an average 2.5 people per household and 60% of renters in multifamily units (as opposed to single family or mobile homes) at least 7 units per 100 new jobs would be required just to keep the status quo.

Portland Named in Top 10 Multifamily Markets

The Multi-Housing News has named the Portland area among the top 10 hot markets for 2008 along with: Salt Lake City, Seattle, San Francisco, San Jose, Denver, Minneapolis, Nashville and Philadelphia. “Buoyed by strength in technology sectors, the Pacific Northwest and northern California multifamily markets remain shining stars, especially when compared to the rest of the U.S.” – Multi Housing News Market Report, June 2008.