 |
| Ira Virden |
PORTLAND, OR – HFF announced today that it has closed the
sale of and arranged financing for Rock Creek Landing, a 480-unit, Class A,
garden-style multi-housing community in Hillsboro, Oregon.
HFF
marketed the property on behalf of the seller.
An affiliate of Heitman purchased the asset for an undisclosed amount
free and clear of existing debt. HFF
also worked on behalf of the buyer to secure a $40 million, seven-year loan
through a correspondent life insurance company.
Rock
Creek Landing is located at 3009 NW Overlook Drive approximately 12 miles
northwest of downtown Portland and nearby employers such as Intel, Kaiser
Permanente Westside Medical Center and Nike World Headquarters.
Situated on approximately 21.4 acres, the property is 95
percent leased and includes one- and two-bedroom units averaging 899 square
feet each. Community amenities include
a saltwater swimming pool, hot tub, barbecue area, clubhouse and business
center.
 |
| Sean Deasy |
The
HFF investment sales team was led by director Ira Virden, senior
managing director and co-head of multi-housing investment sales, Sean Deasy,
and senior real estate analyst Kerry Hughes.
HFF’s
debt placement team was led by senior managing director Eric Tupler and
managing director Tom Wilson.
Heitman, founded in 1966 and headquartered in Chicago, manages more than
$30 billion in assets invested directly and indirectly in real estate in North
America, Europe and Asia-Pacific. The firm’s clients include institutions,
pension plans, endowments and foundations and individual investors.
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
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