HFO Investment Real Estate, a Portland, Ore.-based commercial real estate brokerage firm, secured the sale of Riverwood Apartments and Townhomes in Grand Pass, Ore. Camelot 16 LLC of Chico, Calif, an investor group looking to reinvest in a larger asset, sold the buildings for $15.2 million, or $90,719 per unit, to Mactrust LLC.
Situated on more than 10 acres, the property was completed in stages between 1989 and 1992. Riverwood Apartments and Townhomes features 28 buildings, which comprise 136 units, 30 townhomes and one single-family residence. Community amenities include a 24-hour emergency on-call maintenance, basketball half-court, barbecue grills and picnic areas, bike paths and a fitness center.
Located at 1625 SE N St., the community is close to a variety of schools, shopping and parks. It offers access to downtown and Interstate 5. The property is also walking distance to