296-Unit Sale by HFO in Springfield, Oregon Sets Multifamily Transaction Record

June 22, 2017

HFO Investment Real Estate (HFO) announced the sale of Brentwood Estates Apartments, located at 317 30th Street in Springfield, Oregon for $40.5 million.

Brentwood Estates occupies nearly 24 acres and consists of 76 two-story buildings in duplex, triplex and fourplex construction. With 295 total units built in four phases between 2004 and 2007, Brentwood Estates is the largest multifamily community in Springfield. The property is located across Main Street from Willamalane Park District’s massive Bob Keefer Center for Sports and Recreation.

The sale of the property for $40.5 million is the largest multifamily transaction in Springfield history. The previous record multifamily sale was HFO’s 2013 transaction of a 98-unit apartment community in the Gateway area for $7.8 million.

“The Eugene/Springfield area’s quality of life, solid employment base in health care and higher education, and its growth of world-class tech companies is highly attractive to investors seeking a stable, growing market,” said HFO partner Rob Marton. “Brentwood Estates is a prime example of well-constructed workforce housing that is in very high demand.”
Brentwood Estates was sold by a Portland real estate investment company to a California investment firm which recently sold a large property in Grants Pass. The buyer, incorporated in Oregon as Countryside Partners Springfield LLC, plans to continue make upgrades to the apartment units which currently feature granite countertops, air conditioning, electric fireplaces, and private backyard patios.

Brentwood Estates also offers residents a community clubhouse with a fitness center, two large tennis/basketball courts, a leasing office, a community room with kitchen and conference room, and an outdoor children’s play area.

The sale represents a price per unit of $137,288 per unit or $116.34 per square foot.

HFO Quote

We had a wonderful experience with HFO - excellent on everything. They are very responsive. Greg did a great job.

Leonard G., Portland, OR
I have brokers calling me all the time. Greg Frick is the only one I’ve talked with who left me feeling smarter after the conversation. I’ve become a loyal client of HFO.

John E., Portland, OR
HFO is thoroughly professional.

Phil O., Oregon City, OR
We do a lot of transactions and sometimes when there is an issue a broker will tell us "it's not my problem." Lee got in there and really helped beyond what was necessary.

Matt K., Manhattan Beach, CA
HFO is professional, knowledgeable and honest. They get it done.

Michael K., San Francisco, CA
True professionals with unparalleled degree of expertise in the Portland multifamily space.

Boyd W., Vancouver, WA
HFO is the best boutique real estate brokerage in Portland.

Max S., W. Hollywood, CA
HFO doesn't lead sellers into unrealistic expectations of pricing. They are exceptional and advocate for both buyers and sellers' interest.

Doug R., Reno, NV
I appreciated Adam’s responsiveness, experience, and knowledge.

Itzik S., Eugene, OR
Great experience over the years, and I will be using HFO in the future.

Joel M.
I like that HFO focuses solely on multifamily and does it really well. I like the blog and appreciate HFO-TV. HFO has the experience and focus to get me the best multifamily deal. I wouldn't use anyone else.

Kenny G., West Linn, OR
One of the best firms at seeing a deal from the owner's perspective.

Matt K., El Segundo, CA
For the eleventh year in a row, HFO Investment Real Estate is one of Portland's top philanthropic corporations. (2020)

The Portland Business Journal
There were many landmines in my transaction, and I am glad to have hired HFO because they handled it well. HFO is the only company my wife and I would recommend.

John E., Mesa, AZ
Deep knowledge of the market and personal integrity of the brokers sets HFO apart for our family. As someone who spent 40 years in apartment brokerage, I believe HFO is far ahead of its nearest competitor.

Dean M., Fort Denaud, FL
Greg is great, friendly, interesting, timely in calls and checks in regularly. Honesty is #1 and Greg has that going for him.

John N., Portland, OR
Since 2006, HFO has consistently been recognized by CoStar as one of Portland Metro's PowerBrokers based on transaction volume. In March of 2021, HFO once again earned this distinction for the 2020 calendar year.

CoStar Group
HFO is a very well run brokerage and goes above and beyond in providing information to investors. I really like their roundtables, market updates and podcasts.

Rachel S., Menlo Park, CA
I have done 5-6 deals with HFO, and things have gone so well. I use HFO exclusively.

Greg W., Vancouver, WA
My listing was in a smaller market and HFO did a great job of finding buyers. They also did an excellent job handling all the backroom financials and documents.

Lee S. Keizer, OR
I am such a fan of HFO. HFO is night and day better than the firm we used before and I am 100% loyal to them.

Sue C., San Jose, CA
HFO does a great job on the web and email keeping owners posted on the whole political scene.

Richard R., Palm Desert, CA
Efficient and go-getters. Didn't wait for things to happen, they were active.

John P., Redmond, WA
Greg is great. I'm very happy with him, and the whole HFO team.

Leslie M., Pacific Palisades, CA
My experience with HFO was very, very positive.

Lecia K., San Francisco, CA
Every time I had a problem Todd took care of it. The level of service at HFO is excellent.

Paul H., Lake Oswego, OR

296-Unit Sale by HFO in Springfield, Oregon Sets Multifamily Transaction Record

HFO Quote

We had a wonderful experience with HFO - excellent on everything. They are very responsive. Greg did a great job.

I have brokers calling me all the time. Greg Frick is the only one I’ve talked with who left me feeling smarter after the conversation. I’ve become a loyal client of HFO.

HFO is thoroughly professional.

We do a lot of transactions and sometimes when there is an issue a broker will tell us "it's not my problem." Lee got in there and really helped beyond what was necessary.

HFO is professional, knowledgeable and honest. They get it done.

True professionals with unparalleled degree of expertise in the Portland multifamily space.

HFO is the best boutique real estate brokerage in Portland.

HFO doesn't lead sellers into unrealistic expectations of pricing. They are exceptional and advocate for both buyers and sellers' interest.

I appreciated Adam’s responsiveness, experience, and knowledge.

Great experience over the years, and I will be using HFO in the future.

I like that HFO focuses solely on multifamily and does it really well. I like the blog and appreciate HFO-TV. HFO has the experience and focus to get me the best multifamily deal. I wouldn't use anyone else.

One of the best firms at seeing a deal from the owner's perspective.

For the eleventh year in a row, HFO Investment Real Estate is one of Portland's top philanthropic corporations. (2020)

There were many landmines in my transaction, and I am glad to have hired HFO because they handled it well. HFO is the only company my wife and I would recommend.

Deep knowledge of the market and personal integrity of the brokers sets HFO apart for our family. As someone who spent 40 years in apartment brokerage, I believe HFO is far ahead of its nearest competitor.

Greg is great, friendly, interesting, timely in calls and checks in regularly. Honesty is #1 and Greg has that going for him.

Since 2006, HFO has consistently been recognized by CoStar as one of Portland Metro's PowerBrokers based on transaction volume. In March of 2021, HFO once again earned this distinction for the 2020 calendar year.

HFO is a very well run brokerage and goes above and beyond in providing information to investors. I really like their roundtables, market updates and podcasts.

I have done 5-6 deals with HFO, and things have gone so well. I use HFO exclusively.

My listing was in a smaller market and HFO did a great job of finding buyers. They also did an excellent job handling all the backroom financials and documents.

I am such a fan of HFO. HFO is night and day better than the firm we used before and I am 100% loyal to them.

HFO does a great job on the web and email keeping owners posted on the whole political scene.

Efficient and go-getters. Didn't wait for things to happen, they were active.

Greg is great. I'm very happy with him, and the whole HFO team.

My experience with HFO was very, very positive.

Every time I had a problem Todd took care of it. The level of service at HFO is excellent.