Saturday, August 1, 2015

HFF closes $47.1 million sale of 2 garden-style apartment communities in Milwaukie, OR

Miramonte Lodge, Milwaukie, OR

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. 

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 |

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