HFF closes $47 million sale of 263-unit apartment community in Portland, OR

                                                                                        

Carrie Kahn

PORTLAND, OR –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $47 million sale of The Ellington, a 263-unit apartment community in Portland, Oregon.

HFF marketed the asset exclusively on behalf of Guardian Real Estate Services and its capital partner, Broadreach Capital Partners.  The Portland Housing Bureau purchased the offering free and clear of existing debt.

The Ellington is situated on approximately 11 acres at 1610 NE 66th Avenue in Northeast Portland’s Madison South neighborhood.  The property is adjacent to the historic Rose City Golf Course and less than a mile from the NE 60th Avenue MAX light rail station.  The Ellington offers a mix of studio, one-, two- and three-bedroom townhome-style units averaging 842 square feet each. 

The Ellington Apartments, Portland, OR
      (Photo by RedStudioInc)

The HFF investment sales team was led by managing director Ira Virden and director Carrie Kahn.

“We were pleased to work on this with the Portland Housing Bureau on the seller’s behalf so they could fill the large demand for affordable housing in the community,” said Virden. “The Ellington is truly a unique asset in a location that will only grow in demand over time.”

For a complete copy of the company’s release, please contact:

Kristen M. Murphy

Director, Public Relations

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com