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| Miramonte Lodge, Milwaukie, OR |
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| Ira Virden |
PORTLAND, OR -- Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the $47.1 million sale of The Bluffs and Miramonte Lodge, two
garden-style apartment communities totaling 368 units in Milwaukie, Oregon.
HFF marketed the
properties on behalf of Holland Partner Group and its capital partner. Starwood Capital Group purchased the assets
free and clear of existing debt.
The Bluffs is a
four-building, 137-unit property totaling 100,837 rentable square feet with
studio, one-, two- and three-bedroom units.
The property is situated
on 6.68 acres at 12601 SE River Road along the Willamette River and
approximately seven miles south of downtown Portland. Community amenities include an outdoor pool,
sauna, barbecue area, fitness center, community room and resident library.
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| Kerry Hughes |
Miramonte Lodge has 231
units totaling 164,144 rentable square feet consisting of studio, one- and
two-bedroom floor plans.
The 17.46-acre,
23-building property is located at 12200 SE McLoughlin Boulevard along Kellogg
Creek, approximately one half of a mile from The Bluffs.
The new MAX Orange light
rail line, due for completion in September 2015, bisects both assets along
Highway 99E providing direct access into downtown Portland.
Community amenities include an outdoor pool
with sun deck, barbecue and picnic area, fitness center, clubhouse and pet
park.
The HFF investment sales
team was led by managing director Ira
Virden and associate director Kerry
Hughes.
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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