HFO Coordinates $19M Sale of Portland MF Portfolio
HFO Investment Real Estate, a leading Pacific Northwest multifamily real estate brokerage firm, completed the sale of two prime multifamily properties for $19.825 million in Lake Oswego, Oregon. The 30-unit Laurelwood Apartments and the 55-unit Lake Fir Apartments are located in the desirable suburb just outside Portland.
The transaction was handled by HFO broker Greg Frick, who facilitated the sale from a family partnership to San Francisco-based FPA Multifamily, LLC. The long-time owners–involved in estate planning–collaborated with HFO to address title and entity-related challenges related to the extended ownership period.
HFO successfully identified financially capable buyers willing to navigate below-market rents, challenging net operating income, and accommodate the sellers’ extended timeframes while also addressing their estate planning needs.
“This sale underscores the strong demand for multifamily assets in Oregon’s suburban areas, and we are proud to have played a role in this significant transaction,” said Greg Frick, founding partner of HFO.
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.