Thursday, August 30, 2018
Tuesday, August 28, 2018
Congratulations to Melilssa Marton and company for another successful year.
Portland URM Policy: Vote on Building Warning Signs Originally Set for Sept. 12th at Portland City Hall - Rescheduled to 10/3
Among those recommendations was a direction to:
Commissioner Chloe Eudaly has been supportive of this requirement, saying, "Every tenant and occupant has a right to make an informed decision on whether they want to live in an URM."
Owners of URM buildings have pushed back against these requirements, arguing that the city should not be penalizing buildings that are up to code. Furthermore, the city's list of URM buildings is not entirely accurate - some of the buildings included on the list have already been upgraded. For those that have been upgraded, engineers from the city are not always available to verify this
City staff has been instructed to return to the Council with a final URM retrofit policy for adoption by June 2019.
Managed by the same owner for over 20 years, the Evergreen Townhouses’ rents significantly trailed the market. HFO marketed the asset as an opportunity to reposition the property. We worked to help investors understand the Eugene/Springfield area’s history of steady rent growth, resulting in a multiple competing offers and a successful sale. For additional information on this listing call an HFO broker at (503) 241-5541.
Monday, August 27, 2018
This week: The City of Portland passes new zoning for mobile home parks, creating an obstacle for redevelopment; The President's tariff on building materials is causing projects to be scaled back or abandoned; The justice department announced its support for a lawsuit accusing Facebook of violating fair housing laws.
Thursday, August 23, 2018
The previous owner self-managed the property, and had strong relationships with current tenants. HFO was able to shield tenants from disruption during the selling process. Because of our extensive relationships within the market, we located a buyer able to finance the project notwithstanding its low NOI. For more information about this listing, call an HFO broker at (503) 241-5541.
Tuesday, August 21, 2018
Monday, August 20, 2018
This week: Clackamas County elected officials show support for Metro's housing bond at a Chamber of Commerce event; the city of Portland debates new rules for developers pertaining to how and when neighborhoods should be notified of new construction; and economists and housing experts respond to a claim in the Washington Post that building new housing only helps the rich.
Thursday, August 16, 2018
Wednesday, August 15, 2018
Tuesday, August 14, 2018
Monday, August 13, 2018
- Drug dealers | Drug manufacturers
- Sex offenders
- Robbers | Burglars
- Domestic abusers | Assailants
The item is tentatively set for public hearing on Thursday, October 18, 2018.
This week: Auditors find that about 80% of Portland's short-term rentals may be operating illegally; Mayor Ted Wheeler rearranges oversight of Portland's bureaus, and the City of Vancouver Washington throws its support behind building a new I-5 bridge across the Columbia River--five years after Washington's state Legislature scuttled the idea.
Friday, August 10, 2018
Thursday, August 9, 2018
Tuesday, August 7, 2018
HFO used its extensive knowledge of the market to validate assumptions on the property’s rent growth potential. Our team used its extensive network to locate a buyer with the financial wherewithal to obtain financing on a property with a lower than expected NOI. For additional information on this transaction contact an HFO broker at (503) 241-5541.
Monday, August 6, 2018
This week: tenants in a SE Portland apartment complex decide to go on a rent strike; the Portland City Council postpones voting on the residential infill plan; while on the national stage, a California Senator is calling for the federal government to create a tax credit for families who spend more than 30% of their income on rent.
Thursday, August 2, 2018
Portland's Planning and Sustainability Commission is Making Big Changes to the Residential Infill Plan
The sale of this property was challenging due to the existing financing that had to be assumed. The loan resulted in an LTV of 63% and did not allow for secondary financing. Through HFO’s strong marketing efforts, the sale was arranged with a 1031 exchange buyer and was a win for all parties involved.