 |
| Carrie Kahn |
PORTLAND, OR –- Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged financing for Waterline, a newly-built, 243-unit,
mid-rise apartment property located along the Willamette River in Portland’s
North Pearl District.
HFF marketed the asset
exclusively on behalf of the seller, Fore Property Company and its finance
partner. Greystar purchased the asset
for an undisclosed amount.
In addition, HFF
worked on behalf of the new owner to place a floating-rate acquisition loan
with MetLife.
Waterline is situated on
approximately 1.77 acres at 2080 NW Front Avenue near Interstate 405, Highway
30 and numerous retail, dining and entertainment attractions in Portland’s
Pearl District and NW 21st/23rd Corridor.
 |
| Ira Virden |
Completed in 2015, the property has 1,112
square feet of 100-percent-leased ground floor retail and 243 studio, one- and
two-bedroom units averaging 796 square feet each.
Residences feature luxury
finishes, large floor plans, in-unit washers/dryers, stainless appliances,
quartz countertops, European-style cabinetry and views of the iconic Fremont
Bridge and Willamette River.
Additionally, community amenities include a
rooftop deck, community lounge, fitness center, yoga/Pilates studio, community
courtyards, pet services and washing station, bike storage and a 268-space
controlled access parking garage.
The HFF investment sales
team was led by managing director Ira
Virden and director Carrie Kahn.
HFF’s debt placement team
was led by senior managing director Andy
Scott, managing director Charles
Halladay and associate director Michael
Cosby.
 |
| Andy Scott |
“This is a perfect example
of the continued healthy appetite for large, Class A, core product in urban
neighborhoods. At the moment, there is a
shortage of these investment opportunities across the West Coast due to
investor demand outpacing supply,” said Virden.
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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