Friday, April 26, 2024

Sold! 18 Units in Newport, OR

Brookshire Apartments is an 18-unit complex comprising four four-plexes and an original 1950s house converted into a duplex. Tucked away in Newport on the Oregon coast, the benefits of the property's desirable location were challenged by the need for various capital improvements, and several vacant units were not yet rent-ready. With occupancy below 70% at the time of sale, there was potential for management improvement. HFO assisted the buyer in navigating the complexities of financing for this operationally challenged property in a tertiary location. This transaction exemplifies HFO's adeptness and expertise in successfully closing challenging deals. 

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