PORTLAND, Ore., Sept. 21, 2017 /PRNewswire/ -- HFO Investment Real Estate (HFO) announced the sale of Latitude Apartments located near Clackamas Town Center mall in Happy Valley for $58 million.
The Latitude Apartments is a gated apartment community consisting of 210 apartments with an average unit size of 1,133 square feet. Built in two phases between 2008 and 2014, the sale represents the second largest apartment transaction for Clackamas County this calendar year.
Latitude Apartments consists of 33 three-story apartment buildings and one clubhouse on 6.89 acres across from Clackamas Town Center − one of the largest regional malls. The transit-oriented development is convenient to I-205 and easy walking distance to MAX light rail and several bus lines.
"Happy Valley is an affluent, educated area with high employment in healthcare, professional services and retail," said HFO partner Cody Hagerman. "Latitude Apartments is a great example of well-constructed condo-quality housing that is in exceptionally high demand."
Latitude Apartments offers its residents numerous community amenities including a dog run and grooming station, electronic parcel lockers, bike repair station, fitness facility, pool, basketball court, and direct-entry garages.
The seller was Bay Area investment firm The Reliant Group and the buyer was global real estate investment company Kennedy Wilson. The sale represents a price per unit of $276,190 per unit or $243.76 per square foot.
High resolution photos are available for download at the following link. Credit: Photo(s) Courtesy of HFO. http://bit.ly/LatitudeHappyValley
HFO specializes in multi-family investment properties and passionately pursues client success through strategic collaboration. The company is known for its ability to attract the largest possible pool of buyers. HFO offers substantial no-cost client services, including complimentary industry-specific events, market news, and original video programming via HFO-TV. From its inception, HFO has operated in sharp contrast to most of its industry competitors, using intra-office collaboration to provide service to a wider range of customers, through sales velocity and development of loyal client relationships. Since its founding in Portland in 1999, HFO has been involved in the sale of more than 22,000 apartment units valued at more than $2.3 billion. Build Your Legacy(sm) with HFO Investment Real Estate. Learn more at www.hfore.com.
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SOURCE HFO Investment Real Estate