Real Estate
Home›Real Estate›Commercial›HFO Investment Real Estate sells 154-unit Fieldstone a…
HFO Investment Real Estate sells 154-unit Fieldstone apartments for $27.3M
The sale price closed at $177,272 per unit, 30% higher than the $20.8 million level the property last traded for in 2015.
HFO Investment Real Estate has completed the $27.3 million sale of the Fieldstone Luxury Apartments, a 154-unit community located at 20650 NE Halsey St. in Fairview, Oregon, according to ConnectCRE.
Affordable Housing Associates of Irvine, Calif., sold the property to Benedict Canyon Equities of Los Angeles, and the transaction closed at a price of $177,272 per unit.
ConnectCRE said the sale price reflects a 30% increase over the $20.8 million the property last traded for in 2015.
The property was built in 1997 and consists of 16 two- and three-story buildings across 8.23 acres, with units averaging 993 square feet, and it is located in a federally designated Opportunity Zone.