DEAL OF THE DAY: Oregon Broker Coordinates Sale of Five Apartment Properties for Over $70 Million
- Jan 11, 2008
Portland, Ore.–Portland, Ore.-based real estate investment firm Hagerman Frick O’Brien recently arranged the sale of five apartment buildings in Washington and Oregon for more than $76 million.The 334-unit Meadow Wood Apartments in Vancouver, Wash., sold for $26.6 million or $79,640 per unit. Hagerman Frick O’Brien Investment Real Estate (HFO) represented both the buyer, Meadow Wood Associates, based in Washington state, and the seller, Orchards Retirement, LLC of Vancouver.Prairie View (pictured), a 284-unit apartment complex in Vancouver, sold for $26.7 million, or $94,014 per unit. The buyer, Vancouver Prairie View, LLC of Vancouver, and the seller, Prairie View Associates of Seattle, were both represented by HFO. Scholls Terrace LLC sold Scholls Terrace, a 158-unit apartment property in Beaverton, Ore., to 12000 SW Pioneer Lane, LLC of Portland for $14.5 million, or $91,772 per unit. HFO represented both parties.The 80-unit Wellington Estates Apartments complex in Tigard, Ore. was sold to Pacific Northwest Apartments LLC of California for $7.175 million, or $89,687 per unit. HFO represented the buyer and the seller, Wellington Apartments LLC of Portland. In addition, HFO represented D & D Gerber of Portland, who sold the Normandy Apartments, an 18-unit apartment complex in Portland, to the Long Khac Nguyen Trust of Portland for $1.035 million, or $57,500 per unit. HFO also represented the Long Khac Nguyen Trust.