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| Spyglass Hill Apartments, 14305 SW Sexton Mountain Drive, Beaverton, OR |
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| Ira Virden |
PORTLAND, OR –- Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Spyglass Hill, a 137-unit, garden-style
multi-housing community in Beaverton, Oregon.
HFF marketed the asset
exclusively on behalf of Hamilton Zanze.
Pacific Urban Residential (PUR) purchased the offering for $25.35
million free and clear of existing debt.
Spyglass Hill is located
at 14305 SW Sexton Mountain Drive near major area thoroughfares, including
Route 217, Highway 26 and Interstate 5.
The property’s location positions it approximately 11 miles southwest of
downtown Portland and near large regional employers such as Nike and
Intel.
Spyglass Hill is 97.9
percent leased and offers a mix of one-, two and three-bedroom units totaling
approximately 122,057 rentable square feet.
Community amenities include a swimming pool, hot tub, barbecue/picnic area,
fitness center, clubhouse and business center.
The HFF investment sales
team was led by managing director Ira
Virden.
“The partnership executed
on our business plan for this property and felt that this was an opportune
moment to recycle the capital and move on,” said Kurt Houtkooper, Chief Investment Officer at Hamilton Zanze.
For a complete copy of the company’s news
release, please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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