Skip to Main Content

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 Learn more at

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

# # #

HFO Quote