 |
| Sunnyside Place apartments, Clackamas, OR |
PORTLAND, OR – HFF announced it has closed the $14.1 million
sale of and arranged $10.58 million in financing for Sunnyside Place, a
108-unit, garden-style multi-housing community in Clackamas, Oregon.
HFF
marketed the property on behalf of the seller, Wood River Properties. Hamilton Zanze purchased the asset for $14.1
million free and clear of existing debt.
HFF also secured a
floating- to fixed-rate acquisition loan on behalf of the buyer through Freddie
Mac’s (Federal Home Loan Mortgage Corporation) CME Program. The securitized loan will be serviced by HFF
through its Freddie Mac Program Plus® Seller/Servicer program.
 |
| Ira Virden |
Sunnyside Place is located at 13300 SE 122nd Avenue between Clackamas
and Happy Valley, approximately 12 miles southeast of downtown Portland.
Situated on approximately 5.97 acres, the property is 95.4
percent leased and includes one-, two- and three-bedroom units averaging 1,025
square feet each. Community amenities
include a swimming pool, hot tub, fitness center, playground and
clubhouse.
The
HFF investment sales team was led by director Ira Virden and senior real
estate analyst Kerry Hughes.
HFF’s
debt placement team was led by managing director Tom Wilson and director
Charles Halladay.
“This
value-add property proved attractive to investors due to its prime location
near major area employers such as Kaiser Permanente’s Sunnyside Medical Center,
the multitude of nearby retail options
and proximity to numerous transportation modes including the TriMet MAX Green
Line light rail service,” commented Virden.
 |
| Tom Wilson |
“Sunnyside Apartments represents a perfect opportunity to
implement our value-add strategy and create yield for our investors. Portland fundamentals continue to impress and
we will continue to pursue similar acquisitions,” added David Nelson, director
of acquisitions at Hamilton Zanze.
Founded in 2001, Hamilton Zanze is a commercial real estate
firm focused on the pursuit, acquisition and hands-on management of multifamily
housing in the western and southwestern United States.
Today, the firm manages more than 15,000
units across nine states and continues to add to its portfolio. For more information, please visit www.hamiltonzanze.com.
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
No comments:
Post a Comment