PORTLAND, OR– HFF announced today that it has closed the sale of Stonecreek Apartments, a 90-unit multi-housing community in southeast Portland, Oregon.
HFF represented both the seller, CIC Stonecreek LLC, and the buyer, Norton Company-III LLC, in the transaction.
Located at 11612 SE Division Street, Stonecreek Apartments is close to Interstate 205 and has easy access to downtown via the number 4 Tri-met line, which stops in front of the property. The community has one- and two-bedroom units and offers residents a pool, laundry center, recreation room, sun deck, sports courts and nightly security patrol.
The HFF investment sales team representing both the buyer and seller was led by associate directors Nick Klein and Tyler Linn. HFF’s Tom Wilson arranged original financing on the property in 2008 and assisted on this transaction with the loan assumption for the new buyer.
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.