Tuesday, March 6, 2012

HFF named to market sale of apartment community near Oregon State University



PORTLAND, OR – HFF announced today that it has been named to market for sale Grand Oaks Apartment Homes (top left photo) a 125-unit/249-bed student housing community near Oregon State University in Corvallis, Oregon.

HFF is marketing the property on behalf of the seller, American Capital Group, free and clear of existing debt.

Grand Oaks Apartments is located at 6300 SW Grand Oaks Drive west of the campus in Corvallis.  Completed in 2002, the 98 percent leased property has one-, two- and three-bedroom units averaging 952 square feet each.  Community amenities include a clubhouse, fitness center, pool and spa, playground and covered parking.

The HFF investment sales team representing American Capital Group is led by managing director Brian Kelly (middle right photo) and director Ira Virden (lower left photo). 

“Grand Oaks offers investors the opportunity to purchase an exceptional community in a very high barrier to entry university market. 

"The lack of available housing for Oregon State University students suggests an experience operator can increase NOI by implementing a student housing-focused management strategy,” said Kelly.

American Capital Group is a premier, privately-held developer/builder based in Bellevue, Washington. 

Contacts:   
                 
BRIAN KELLY                          IRA VIRDEN                                
HFF Managing Director           HFF Director                              
(312) 528-3650                        503) 224-0444                         
bkelly@hfflp.com                     virden@hfflp.com                       

KRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500

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