HFO Successfully Coordinates $19 Million Sale of Suburban Portland Multifamily Portfolio

These are the third and fourth purchases HFO facilitated for the California buyer in the Portland metro this year

LAKE OSWEGO, OREGON, UNITED STATES, June 8, 2023/EINPresswire.com/ -- HFO Investment Real Estate (HFO), the leading multifamily real estate brokerage firm in the Pacific Northwest, is excited to announce the successful sale of two prime multifamily properties in Lake Oswego, Oregon: 30-unit Laurelwood Apartments and 55-unit Lake Fir Apartments, both located in the desirable suburb just outside Portland. The properties sold for $19.825 million.

Built in the 1970s, Laurelwood and Lake Fir offer a mix of one-, two-, and three-bedroom units. Near Lake Grove Elementary School and major thoroughfares, the properties offer convenient access to Oswego Lake and the city's desirable dining, entertainment, and shopping options.

The transaction was handled by HFO founding partner and broker Greg Frick, who facilitated the sale from a family partnership to San Francisco-based FPA Multifamily, LLC.

The long-time property 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 and challenging net operating income (NOI), and to 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. "With their strategic locations and potential for value-add opportunities, Laurelwood and Lake Fir offer the new owners a unique chance to meet the increasing demand for high-quality residential options in the Lake Oswego area."

HFO continues demonstrating its expertise in the multifamily market and remains committed to delivering exceptional results for its clients.

Julie Eng
HFO Investment Real Estate
+1 971-717-6339
julie@hfore.com