Sunday, March 27, 2016

HFF closes $25.35 million sale of Beaverton, OR multi-housing community

Spyglass Hill Apartments, 14305 SW Sexton Mountain Drive, Beaverton, OR

Ira Virden
PORTLAND, OR –- Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Spyglass Hill, a 137-unit, garden-style multi-housing community in Beaverton, Oregon.

HFF marketed the asset exclusively on behalf of Hamilton Zanze.  Pacific Urban Residential (PUR) purchased the offering for $25.35 million free and clear of existing debt.

Spyglass Hill is located at 14305 SW Sexton Mountain Drive near major area thoroughfares, including Route 217, Highway 26 and Interstate 5.  

The property’s location positions it approximately 11 miles southwest of downtown Portland and near large regional employers such as Nike and Intel. 

Spyglass Hill is 97.9 percent leased and offers a mix of one-, two and three-bedroom units totaling approximately 122,057 rentable square feet.  Community amenities include a swimming pool, hot tub, barbecue/picnic area, fitness center, clubhouse and business center.

The HFF investment sales team was led by managing director Ira Virden.

“The partnership executed on our business plan for this property and felt that this was an opportune moment to recycle the capital and move on,” said Kurt Houtkooper, Chief Investment Officer at Hamilton Zanze.

  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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