HFO Brokers Sale of 390 Units for $76 Million in Happy Valley

October 10, 2016

Green Leaf Monterey in Happy Valley HFO Investment Real Estate (HFO) has sold the 390-unit Green Leaf Monterey Apartments in Happy Valley for $76 million.

HFO’s institutional team represented the seller, Green Leaf Partners of California, and located a California buyer for the property: MG Properties Group of San Diego.

“This property has been continually upgraded over the past few years, which has significantly increased its value. Green Leaf Monterey offers an investor a critical mass of units that can benefit from a program of continual improvements and enhancements,” said HFO partner Cody Hagerman.

Located in Happy Valley within walking distance of the 1.5 million square foot Clackamas Town Center, Green Leaf Monterey is a gated community offering resort-style amenities in a quiet, garden atmosphere. Its 11.8-acre site includes a central greenway of ponds and waterways spanned by arched pedestrian bridges. The community’s other amenities include a fitness center, clubhouse, year-round partially covered pool and covered parking.

The sale was represented by HFO partners Tyler Johnson, Cody Hagerman, Greg Frick and Rob Marton and closed at a price per unit of $194,871 or more than $147 per square foot.

HFO Quote

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

John P., Redmond, 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 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 does a great job on the web and email keeping owners posted on the whole political scene.

Richard R., Palm Desert, CA
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
Great experience over the years, and I will be using HFO in the future.

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

Leslie M., Pacific Palisades, CA
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
I have done 5-6 deals with HFO, and things have gone so well. I use HFO exclusively.

Greg W., Vancouver, WA
I appreciated Adam’s responsiveness, experience, and knowledge.

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

Max S., W. Hollywood, CA
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
HFO is professional, knowledgeable and honest. They get it done.

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

Boyd W., Vancouver, WA
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 thoroughly professional.

Phil O., Oregon City, OR
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
My experience with HFO was very, very positive.

Lecia K., San Francisco, CA
We had a wonderful experience with HFO - excellent on everything. They are very responsive. Greg did a great job.

Leonard G., Portland, OR
Every time I had a problem Todd took care of it. The level of service at HFO is excellent.

Paul H., Lake Oswego, OR

HFO Brokers Sale of 390 Units for $76 Million in Happy Valley

HFO Quote

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

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

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.

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

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)

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.

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

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.

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

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

HFO is the best boutique real estate brokerage in Portland.

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

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

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.

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

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.

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

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 thoroughly professional.

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.

My experience with HFO was very, very positive.

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

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