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Multnomah County Bought +22,000 Tents for Local Houseless Population, Lawsuit Shows

The Multnomah County government will decrease the number of tarps, tents, and other supplies given to local nonprofits to distribute among Portland's houseless community, according to the Joint Office of Homeless Services (JOHS). The news accompanied headlines citing the more than 22,000 tents and 69,000 tarps purchased at a cost of more than $2...

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New Multifamily Marketwatch: Washington Podcast Episode - Tacoma Public Utilities Q & A on Available Multifamily Water & Power Incentives for Existing Properties and New Developments

New Multifamily Marketwatch: Washington Podcast Episode With energy rates on the rise, here's the latest from Tacoma Public Utilities on their available water and electric incentives. Many utilities in the Pacific Northwest offer similar incentives. Be sure to check with your provider if you think one of these programs can save you or your tenants...

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Sold! 10 Units in Gresham, OR

Congratulations to the HFO team and brokers Rob Marton, Greg Frick, and Jack Stephens on the sale of 10-unit Solomon's Place Apartments in Gresham, OR. Visit HFORE.com/transactions.aspx for more recent HFO sales. HFO Investment Real Estate specializes in multifamily brokerage sales and advisory services for commercial real estate investors and...

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Sold! 26 Units in Portland, OR

Congratulations to the HFO team and brokers Greg Frick, Jack Stephens, and Adam Smith on the sale of 26-unit Westview Terrace in Portland, OR. Visit HFORE.com/transactions.aspx for more recent HFO sales. HFO Investment Real Estate specializes in multifamily brokerage sales and advisory services for commercial real estate investors and apartment...

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Sold! 32 Units in Portland, OR

Congratulations to the HFO team and brokers Greg Frick and Jack Stephens on the sale of 32-unit 39th Place Townhomes in Portland, OR. Visit HFORE.com/transactions.aspx for more recent HFO sales. HFO Investment Real Estate specializes in multifamily brokerage sales and advisory services for commercial real estate investors and apartment owners...

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NMHC: Three Ways Policymakers Can Reduce Barriers to Housing Development

Despite insufficient housing supply, vacancies are increasing, the National Multifamily Housing Council (NMHC) reports in a recent post. "Households are doubling up, moving back home, or deciding not to create new households at all," according to NMHC, citing RealPage data showing annual rent growth from the first quarter of 2022 through the third...

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High Employment Rates and Massive Income Growth: Oregon State Economist Josh Lehner's Reasons to be Thankful

In the spirit of the season, Oregon State Economist Josh Lehner shared several data points that demonstrate reasons for Oregon residents to give thanks this year, including: Employment rates by educational attainment in Oregon are higher today than they were pre-pandemic and are the highest seen since before the Great Recession or the dotcom bust...

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Newmark: Negative Multifamily Demand in Q3 2022

According to Newmark's Third Quarter 2022 United States Multifamily Capital Markets Report: Quarterly absorption posted net negative demand of 82,035 units nationally in the third quarter of 2022, during the historically active leasing months of July, August and September, where absorption was negative. Nationally, vacancies remain near historic...

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Multifamily Marketwatch: Washington Podcast - Carl Whitaker of Real Page Analytics and Blake Hering of Gantry Inc with updates on Data and Debt

Carl Whitaker, Director of Research and Analysis for RealPage Analytics offers an update for the Pacific Northwest multifamily market, and Blake Hering of Gantry, Inc. provides a lending market update. Check out this episode! HFO Investment Real Estate specializes in multifamily brokerage sales and advisory services for commercial real estate...

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RealPage: October Rent Cut is the Third Largest Since 2010

U.S. rents fell by 0.6% in October, according to RealPage’s latest rent report. Though rents historically decline in September and October, this decrease represents the third-deepest monthly rent cut in 12+ years, according to the software and analytics firm, surpassed only by the COVID lockdown period from April to May of 2020. RealPage, Inc.'s...

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Report: Pandemic Significantly Increased Multnomah County's Homeless Population

The number of people identified as homeless increased 30% from 2019 to 2022, according to a recently released report from the Multnomah County Joint Office of Homeless Services. As part of a federally required annual survey, more than 2,000 people facing homelessness were asked if COVID-19 was a reason for their homelessness. Twenty-four percent...

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Portland Asking Rents Slightly Above National Average

Portland’s multifamily sector showed steady improvement in 2022, according to the early autumn report for Portland released by Yardi Matrix Overall asking rent in the Portland metro increased to $1,759, slightly above the $1,718 nationwide rate. On an annual basis, rates in Portland were up 9.9%. Lake Oswego (11.3% annual growth to $2,436 per...

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Portland City Council Votes to Adopt Housing Plan & Camping Ban, and Mayor Wheeler Proposes $27M "Down Payment" for Sanctioned Camps

Last week, the Portland City Council approved policies proposed by Mayor Ted Wheeler to create six designated camping sites and phase in a citywide ban on unsanctioned camping. The City Council directed city bureaus and council offices to work together to identify policy and regulatory adjustments, investments, and public-private partnerships to...

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Portland Employment Growing "Fairly Fast"

Portland employment grew 5.2% in the 12 months ending in September, "fairly fast compared to the 50-largest metropolitan areas nationally," writes Workforce Analyst/Economist for Multnomah County Jake Procino in the most recent Multnomah County Economic Indicators report. The city also passed an important milestone this summer, according to...

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Multifamily Marketwatch: Washington Podcast - Washington State and U.S. Multifamily News Headlines

Featured this week: The latest headlines from multifamily news in Washington State and the U.S. Check out this episode! HFO Investment Real Estate specializes in multifamily brokerage sales and advisory services for commercial real estate investors and apartment owners throughout Oregon and Washington. Build your legacy at http://www.hfore.com

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Portland Ranked 21st Among Major U.S. Cities for Crime Rates

According to a recent analysis by the Portland Business Journal (PBJ), in terms of major crime rates, Portland is relatively average compared to the 40 markets in which Business Journals are published. PBJ reporters examined per capita murders, assaults, and robberies in these markets in the first half of 2022 to rank from lowest (denoting less...

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Sold! 90 Units in Portland, OR

Congratulations to the HFO team and brokers Greg Frick and Lee Fehrenbacher on the sale of 90-unit Stonecreek Apartments in Portland, OR. HFO Investment Real Estate specializes in multifamily brokerage sales and advisory services for commercial real estate investors and apartment owners throughout Oregon and Washington. Build your legacy at...

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Average Wait Time for Affordable Portland Apartments: Five Years

The average wait time for one of Portland's subsidized, affordable housing units is five years, according to data commissioned by Mayor Ted Wheeler’s office. The data, produced by Home Forward, used the 35,758 households currently on waitlists for 5,373 units that are owned, managed, or subsidized by Home Forward to calculate the average wait...

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Multifamily Marketwatch Interview: Alexis Eykel , Landlord Engagement Specialist with the Tacoma Housing Authority

Landlord engagement specialist Alexis Eykel along with program ambassador Mark Melsness of Spinnaker Management discuss the City of Tacoma's support for landlords housing low-income tenants. Tenants have an ongoing case manager and the housing provider receives guaranteed rental income. Tacoma Housing Authority is one of 39 housing authorities in...

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Multifamily NW Apartment Report | Fall 2022

Multifamily NW released its Fall 2022 Apartment Market Report this morning at the Apartment Report breakfast. The Portland/Vancouver rental vacancy rate remained flat below 4%, and rent growth is up 0.5% since Spring 2022. Submarket vacancies were reported as follows: Published every spring and fall, Multifamily NW's Apartment Report includes rent...

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