Beaverton & Tigard, Ore. (May 30, 2023) – HFO Investment Real Estate (HFO), a leading real estate brokerage firm in the Pacific Northwest, is pleased to announce the sale of 37-unit Ridgeview Apartments and 40-unit Dakota Station Apartments. Ridgeview in Beaverton sold for $6,725,000 (about $181,756 per unit), and Dakota Station in Tigard sold for $8,025,000 (about $200,625 per unit).
HFO partners Cody Hagerman, Greg Frick, and Rob Marton successfully brokered the sale from a private local investor to San Francisco-based FPA Multifamily, LLC.
“These properties represent a smart investment opportunity for the new owner,” said HFO’s Rob Marton. “With the current state of the market, it’s more important than ever to make informed decisions, and these sales are a testament to the value of having a trusted advisor with extensive knowledge of the local market.”
Ridgeview Apartments is a 37-unit community with spacious one- and two-bedroom units in two-story buildings, ample off-street parking, and covered carports. Built in 1970 in a residential setting conveniently close to highways allowing for travel throughout the Portland metro area, the property presents a value-add opportunity to new ownership.
Dakota Station is similarly well-located, in a serene neighborhood setting bordered by the lush Fanno Creek green area and the Fanno Creek Trail, a 4.5-mile multi-use trail that is among the area’s most popular. The 40-unit property was built in 1988 and features spacious two-bedroom, two-bathroom units spread among five two-story buildings. Units include full-size washer and dryer hookups, and residents have access to the property’s 20 garage parking spaces.
About HFO Investment Real Estate
HFO Investment Real Estate is a leading real estate brokerage firm in the Pacific Northwest, specializing in the sale of multifamily properties. With over 40 years of experience, HFO has a proven track record of delivering successful transactions and exceptional service to clients
About FPA Multifamily, LLC
FPA Multifamily, LLC is a real estate operating company focused on the acquisition, renovation, and management of both core-plus and workforce housing apartment communities. Founded in 1985, FPA has owned over 144,000 apartment units valued at over $23 billion. FPA is currently investing through its value-add-focused FPA Apartment Opportunity Fund VIII which will acquire approximately $4.6 billion of assets and its core-plus-focused FPA Core Plus Fund V which will acquire approximately $1.9 billion of assets. Headquartered in San Francisco, FPA also has offices in Atlanta, Chicago, Denver, Houston, Irvine, and Washington DC.
