HFO Brokers Bethany Area Apartments for $29 Million

September 22, 2016

Oak Hill Apartments, Bethany, Portland Oregon HFO Investment Real Estate (HFO) has sold the 164-unit Oak Hill Apartments in Bethany for $29 million.

HFO’s institutional team–which specializes in institutional and major private multifamily investors— located a California buyer for the property. The property had been in escrow for close to 12 months as the seller worked to identify a replacement property for their 1031 exchange.

"In the last twelve months, Portland's metro area has added over thirty-one thousand jobs," says HFO's Tyler Johnson. "Most people filling those jobs are coming from out of state and our residential construction is not keeping up with demand. This demand for housing is making Oregon a prime investment target for investors from across the country. Oak Hill is a value-add community with significant upside. Its Bethany location makes it especially desirable due to its proximity to downtown Portland, Nike, Intel, and its reputation for having some of the best schools in the metro area."

Oak Hill was sold by its original builder Tokola Properties, Inc. to Affordable Housing Associates of Los Angeles.

Built in 1991, Oak Hill’s amenities include a fitness & business center, clubhouse, pool, and covered parking. Units include washer/dryer, air conditioning, and private balconies or patios.

The sale represented a price per unit of $176,829 or more than $211.65 per square foot. HFO partners Tyler Johnson, Cody Hagerman, Greg Frick and Rob Marton represented the seller in the transaction.

HFO Quote

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

Leonard G., Portland, OR
I appreciated Adam’s responsiveness, experience, and knowledge.

Itzik S., Eugene, OR
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
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
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 is the best boutique real estate brokerage in Portland.

Max S., W. Hollywood, CA
Greg is great. I'm very happy with him, and the whole HFO team.

Leslie M., Pacific Palisades, CA
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
One of the best firms at seeing a deal from the owner's perspective.

Matt K., El Segundo, CA
I have done 5-6 deals with HFO, and things have gone so well. I use HFO exclusively.

Greg W., Vancouver, WA
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
HFO is thoroughly professional.

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

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

Richard R., Palm Desert, CA
My experience with HFO was very, very positive.

Lecia K., San Francisco, CA
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
Efficient and go-getters. Didn't wait for things to happen, they were active.

John P., Redmond, WA
Great experience over the years, and I will be using HFO in the future.

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

Paul H., Lake Oswego, 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 Brokers Bethany Area Apartments for $29 Million

HFO Quote

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.

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 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.

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

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

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

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

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

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

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 is the best boutique real estate brokerage in Portland.

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

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.

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

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

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.

HFO is thoroughly professional.

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

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

My experience with HFO was very, very positive.

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.

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

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

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.

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

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.