PORTLAND, OR – HFF announced today that it has closed the
sale of three multi-housing properties totaling $5.018 million: Hermitage
Apartments in Portland, Oregon and 909 Grove Street and East
Sixth Street Apartments in Vancouver, Washington.
HFF marketed Hermitage Apartments on behalf of the seller,
Tall Pine Properties, LLC. The buyer,
CH Montavilla, LLC, purchased the property for $3,875,000. CH Montavilla LLC is operated by Cumberland
Holdings, an investment and asset management company with offices in San
Francisco and Rolling Hills Estates, California. The company currently operates investments in California, Oregon and
Washington.
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| Nick Klein |
HFF marketed the Vancouver properties on behalf of the
seller, a private investor. 909 Grove
Street LLC and East Sixth Street LLC, a Vancouver-based owner, purchased both
communities for $575,000 and $569,000 respectively.
Hermitage Apartments
is located at 8110-8136 SE Mill Street in Portland. The 73-unit property has one- and two- bedroom units averaging
622 square feet each. Community
amenities include a gated swimming pool, laundry facilities and close proximity
to retail.
909 Grove Apartments is located at 909 Grove Street in
Vancouver, Washington. The 100 percent
leased property has 10 one-bedroom units averaging 700 square feet. Community and unit amenities include
carports, balconies and laundry facilities.
East Sixth Street Apartments is a nine-unit complex located
a few blocks from 909 Grove Apartments at 2815 East Sixth Street in
Vancouver. East Sixth features one- and
two-bedroom apartments averaging 738 square feet each. Community amenities at the fully leased
property include laundry facilities, covered parking, storage rooms, close
proximity to shopping and a “very walkable” ranking on walkscore.com.
The HFF investment sales team representing the sellers and
buyers was led by associate directors Tyler Linn and Nick Klein.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
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