HFO Investment Real Estate Closes $27M Sale of Luxury Apartments in Fairview

HFO Investment Real Estate has completed the $27.3 million sale of Fieldstone Luxury Apartments, a 154-unit community at 20650 NE Halsey St. in Fairview, Oregon.

Affordable Housing Associates of Irvine, Calif., sold the property to Benedict Canyon Equities of Los Angeles. The transaction closed at a price of $177,272 per unit. The sale price marks a 30% increase over the $20.8 million the property last traded for in 2015. Tyler Johnson and Cody Hagerman of HFO represented both parties in the transaction.

Built in 1997, Fieldstone spans 16 two- and three-story buildings on 8.23 acres. Units average 993 square feet across one-, two- and three-bedroom floor plans. Fieldstone sits in a federally designated Opportunity Zone within walking distance of TriMet bus service and is a short drive from Wood Village Town Center and the Gresham Station transit center.

“With major employers like Amazon, FedEx Ground, Boeing and Microchip Technology nearby, Fieldstone has a durable demand base,” said Johnson.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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