HFO Brokers Sale of 225-Unit Gresham Apartments for $37.25 Million

August 23, 2016

HFO Investment Real Estate (HFO) has sold the 225-unit Parkside Apartment Homes in Gresham, Oregon for $37,250,000. HFO’s institutional team was able to execute a national marketing plan for the asset, demonstrating its ability to garner interest in the property from investor groups around the country.

Built in 1999, Parkside Apartment Homes occupies more than 8 1/2 acres adjacent to Gresham’s 32-acre Gradin Community Sports Park. The property is served by Tri-Met and offers renters easy access to nearby major employers and retail amenities.

The latest Industry reports demonstrate Gresham’s strength. The national apartment research firm REIS reports area vacancies at just 1%, leading REIS to forecast rent growth of 8% in east Gresham. “Rent growth throughout the Gresham market continues to match or outperform many areas of Portland,” said HFO partner Tyler Johnson. “As vacancies drop and rents rise, large institutional investors are taking advantage of the value added investments available in the submarket.”

Parkside Apartment Homes was purchased from New York-based KKR by BEF Holdings of Los Angeles, California. The sale represented a price per unit of $165,555 or nearly $183 per square foot. HFO partners Tyler Johnson, Cody Hagerman, Greg Frick and Rob Marton represented the seller in the transaction.

HFO Quote

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

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

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

Doug R., Reno, NV
Every time I had a problem Todd took care of it. The level of service at HFO is excellent.

Paul H., Lake Oswego, OR
My experience with HFO was very, very positive.

Lecia K., San Francisco, CA
HFO is professional, knowledgeable and honest. They get it done.

Michael K., San Francisco, CA
Greg is great. I'm very happy with him, and the whole HFO team.

Leslie M., Pacific Palisades, CA
I appreciated Adam’s responsiveness, experience, and knowledge.

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

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

Greg W., Vancouver, WA
True professionals with unparalleled degree of expertise in the Portland multifamily space.

Boyd W., Vancouver, WA
One of the best firms at seeing a deal from the owner's perspective.

Matt K., El Segundo, 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
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 is thoroughly professional.

Phil O., Oregon City, OR

HFO Brokers Sale of 225-Unit Gresham Apartments for $37.25 Million

HFO Quote

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.

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

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.

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

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.

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.

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 a very well run brokerage and goes above and beyond in providing information to investors. I really like their roundtables, market updates and podcasts.

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.

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

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

My experience with HFO was very, very positive.

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

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

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

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.

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

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

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

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

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

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

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.

HFO is thoroughly professional.