Saturday, August 23, 2014

HFF closes sale of and arranges financing for Rock Creek Landing in Hillsboro, OR


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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