The property had been owned by the same family for more than 30 years and although well-maintained, was in original condition. Castlewood Arms' proximity to the Nike world headquarters and the lack of competing housing in the immediate area made the asset an attractive value-add investment.
HFO was selected for its multifamily expertise and market knowledge and was able to work with both buyer and seller in negotiating the challenge between current operations and the property's value-add opportunity. Castlewood Arms sold for $7,950,000.
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