Sale closed by HFF of mid-rise apartment community in Hillsboro, Oregon
PORTLAND, OR – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Platform 14, a 177-unit, podium-style, mid-rise apartment community in Hillsboro, Oregon.
HFF marketed the property exclusively on behalf of the seller, Holland Partner Group and its finance partner. Invesco Real Estate purchased the asset for an undisclosed amount.
Platform 14 is situated on approximately 2.34 acres at 1030 NE Orenco Station Parkway in the Orenco Station master planned community within walking distance to Intel, which employs 17,500 people locally. Completed in 2012, the four-story, transit-oriented property has 125 one- and 41 two-bedroom units, as well as 11 spacious live and work units with one bedroom/two bath layouts. Property amenities include 16,057 square feet of ground floor retail, an 8,000-square-foot sky deck with barbecue, bar and community garden, community kitchen, lounge, bike storage and garage parking.
The HFF investment sales team representing the seller was led by managing director Ira Virden.
About Holland Partner Group
Founded in 2001, Holland Partner Group (HPG) based in Vancouver, Washington, is a fully-integrated real estate investment company. Current assets under management and development represent approximately $7.5 billion in 30,000 apartment homes located in the western United States’ most sought after markets. The company accomplishes its investment objectives in strategic alignment with its capital partners through its five integrated operating companies, including development, construction, acquisition, redevelopment and management. HPG’s vertically-integrated focus has developed the real estate industry’s most consistent and reliable delivery mechanism for its capital partners.
About Invesco Real Estate
Established in 1983, Invesco Real Estate manages $61.9 billion of real estate investments, including $36.8 billion in direct real estate investments and $25.1 billion in real estate securities (as of June 30, 2015). With more than 400 employees in 20 offices worldwide, the group focuses on top-down market and property fundamentals combined with bottom-up local market intelligence. Senior members of the management team have worked together for more than 25 years, contributing to the consistent implementation of Invesco’s investment strategy and resulting performance. Additional information is available at www.invescorealestate.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.