PORTLAND, OR – HFF announced today that it has closed the sale of Waterhouse Place, a 279-unit, garden-style multi-housing community in Beaverton, Oregon.
HFF marketed the property on behalf of the seller, a joint venture between Guardian Real Estate Services and a value-added fund advised by UBS Global Asset Management. A joint venture between Holland Partner Group and an affiliate of Heitman purchased the property free and clear of existing debt.
Waterhouse Place is located at 600 NW 158th Avenue adjacent to Cornell Oaks Corporate Center and less than one mile from Nike’s world headquarters in Beaverton. Partially renovated in 2009, the complex features one-, two- and three-bedroom homes averaging 937 square feet each. Community amenities include a nature trail and stream, two swimming pools, hot tub, 24-hour fitness center, barbecue and picnic area, and clubhouse.
The HFF investment sales team was led by director Ira Virden, co-head of HFF’s national multi-housing investment sales group Sean Deasy, and senior real estate analyst Kerry Hughes.
“The community’s superb location near several corporate headquarters such as Nike, Intel, Tektronix and Columbia Sportswear combined with plentiful community amenities, such as the 92-acre Tualatin Hills Athletic Center, The Streets of Tanasbourne and Tanasbourne Town Center, made this property extremely attractive to investors,” commented Virden.
Established in 1971 and headquartered in Portland, Oregon, Guardian Real Estate Services has evolved into a leading management, development and investment firm. The company offers a diversified real estate service platform including property management, investments, development and advisory services. Guardian delivers custom solutions by offering a higher level of expertise, resources and creative capacity to develop a unique approach for each client.
Founded in 2000, The Holland Partner Group is comprised of five operating companies focused on development of new communities, new construction operations, property management and redevelopment services in conjunction with investment and asset management. The services and resources provided by Holland allow its strategic alliance partners to invest in core, core-plus and value-added communities in the primary Western United States’ markets.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 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 www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.