HFO Successfully Coordinates $19 Million Sale of Suburban Portland Multifamily Portfolio

June 7, 2023

Portland, Ore. (June 7, 2023) – HFO Investment Real Estate (HFO), the leading multifamily real estate brokerage firm in the Pacific Northwest, is excited to announce the successful sale of two prime multifamily properties in Lake Oswego, Oregon: 30-unit Laurelwood Apartments and 55-unit Lake Fir Apartments, both located in the desirable suburb just outside Portland. The properties sold for $19.825 million.

Built in the 1970s, Laurelwood and Lake Fir offer a mix of one-, two-, and three-bedroom units. Near Lake Grove Elementary School and major thoroughfares, the properties offer convenient access to Oswego Lake and the city's desirable dining, entertainment, and shopping options.

The transaction was handled by HFO broker Greg Frick, who facilitated the sale from a family partnership to San Francisco-based FPA Multifamily, LLC.

The long-time property owners, involved in estate planning, collaborated with HFO to address title and entity-related challenges related to the extended ownership period. HFO successfully identified financially capable buyers willing to navigate below-market rents, challenging net operating income (NOI), and accommodate the sellers' extended timeframes while also addressing their estate planning needs.

"This sale underscores the strong demand for multifamily assets in Oregon's suburban areas, and we are proud to have played a role in this significant transaction," stated Greg Frick, founding partner of HFO. "With their strategic locations and potential for value-add opportunities, Laurelwood and Lake Fir offer the new owners a unique chance to meet the increasing demand for high-quality residential options in the Lake Oswego area."

HFO continues demonstrating its expertise in the multifamily market and remains committed to delivering exceptional results for its clients.

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 20 years of experience, HFO has a proven track record of delivering successful transactions and exceptional service to clients. For more information, visit www.hfore.com. Learn more at www.hfore.com.

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. For more information, please visit www.fpamf.com.

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

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

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

Leslie M., Pacific Palisades, 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
HFO is professional, knowledgeable and honest. They get it done.

Michael K., San Francisco, CA
Great experience over the years, and I will be using HFO in the future.

Joel M.
My experience with HFO was very, very positive.

Lecia K., San Francisco, CA
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
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
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
I have done 5-6 deals with HFO, and things have gone so well. I use HFO exclusively.

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

John P., Redmond, WA
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
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
One of the best firms at seeing a deal from the owner's perspective.

Matt K., El Segundo, CA
HFO is thoroughly professional.

Phil O., Oregon City, 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
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

HFO Successfully Coordinates $19 Million Sale of Suburban Portland Multifamily Portfolio

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

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.

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

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.

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

HFO is the best boutique real estate brokerage in Portland.

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

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

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

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

My experience with HFO was very, very positive.

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.

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.

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.

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

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.

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

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

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.

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

HFO is thoroughly professional.

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.

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.