Riverwalk Apartments Sells for $43.1M – Multi

Riverwalk Apartments, Eugene, Ore.

Riverwalk Apartments, Eugene, Ore.

Portland, Ore.—Local multifamily real estate investment firm HFO Investment Real Estate announced it has arranged the sale of Riverwalk Apartments, one of the newest and most expensive apartment communities in Eugene, Ore. The luxury multifamily asset was acquired for $43.1 million by Green Leaf Riverwalk of Danville, Calif.

The sale price of the 272-unit property equates to a price per unit of $158,456, or $205.21 per square foot. The seller was Alexander Loop LLC, owned by a partnership managed by Walter Bowen, CEO at BPM Senior Living Company.

Riverwalk Apartments was developed by Portland-based BPM Real Estate Group and completed in 2015. By 2016, the community was fully occupied.

Located at 470 Alexander Loop, Riverwalk Apartments offers studio, one-, two- and three-bedroom floor plans ranging in size from 486 to 1,985 square feet. It is conveniently

... read more at: https://www.multihousingnews.com/post/hfo-investment-real-estate-brokers-43m-multifamily-deal-in-eugene-msa/

U.S. Home Sellers in March 2016 Realized Highest Home Price Gains Since December 2007

IRVINE, CA–(Marketwired – April 20, 2016) – RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its March and Q1 2016 U.S. Home Sales report, which shows that U.S. home sellers in March on average sold for $30,500 more than they purchased for, a 17 percent average gain in price — the highest average price gain for home sellers in any month since December 2007 at the onset of the Great Recession.

The RealtyTrac Home Sales report is based on publicly recorded sales deeds collected and licensed by RealtyTrac in more than 900 counties nationwide accounting for more than 80 percent of the U.S. population.

Among 125 metropolitan statistical areas with at least 300 sales in March, home sellers realized the biggest average gains compared to purchase price in San Francisco (72 percent average gain); San Jose, California (60 percent); Boulder,

... read more at: http://www.marketwired.com/press-release/us-home-sellers-in-march-2016-realized-highest-home-price-gains-since-december-2007-2116689.htm

Greystar Acquires Waterline Community in Portland – Multi

Waterline, Portland

Waterline, Portland

Portland, Ore.HFF recently announced closing the sale of Waterline, a newly built residential community located along the Willamette River in Portland’s North Pearl District. The company also arranged financing for the 243-unit apartment property.

HFF marketed the asset exclusively on behalf of the seller, Fore Property Co. and its finance partner. The property was purchased by Greystar at an undisclosed price tag.

Additionally, the firm worked on behalf of the new owner to place a floating-rate acquisition loan with MetLife. The HFF investment team was led by Managing Director Ira Virden and Director Carrie Kahn, while the debt placement team was led by Senior Managing Director Andy Scott, Managing Director Charles Halladay and Associate Director Michael Cosby.

“This is a perfect example of the continued healthy appetite for large, Class A, core product in urban

... read more at: https://www.multihousingnews.com/post/newly-built-community-in-portlands-north-pearl-district-changes-hands/

Real Estate Roundup: Portland tops Case-Shiller again; Hawthorne Theatre sold (links)

The Portland-area housing market again topped the monthly Standard Poor’s/Case-Shiller home price index, released Tuesday, which measures year-over-year gains in home values among 20 of the nation’s largest metros.

That was just one piece of news during another busy week in the real estate world. If you missed any of it – and who could be blamed with the recent streak of nice weather? – here’s a roundup (click the links below for the full stories):

Seattle’s housing deal, political shift may provide Portland a blueprint

Like Portland, San Francisco and a handful of other cities, Seattle is dealing with a housing-affordability crisis resulting from an exploding population and a limited supply of homes.

But unlike Portland and San Francisco, Seattle has undertaken a unique and ambitious plan that sets the city’s approach to housing apart. The plan has upended traditional political alliances and played an outsized role in a recent

... read more at: http://www.oregonlive.com/front-porch/index.ssf/2016/04/real_estate_roundup_portland_t.html

Looking for a home in the red-hot Portland market? What you need to know

When Caitlin and Charles Vestal began looking to buy a home in January, the search quickly felt like a full-time job.

“It has been an insane process,” Caitlin Vestal said. “I wasn’t working during the time, and I’m glad I wasn’t.”

The couple moved from Austin, Texas, to Portland last summer, arriving in what would soon become America’s hottest real estate market. Caitlin had been accepted to a graduate program in creative writing through Oregon State University, and Charles landed a tech job at the Portland design and engineering firm Uncorked Studios.

The couple ended up with a small, one-bedroom apartment along Southeast Division street but eventually decided to buy a home – something they’d never done before – with a backyard for their dogs.

Here’s what they found:

Down Payment Insurance: Smart Protection or Total Waste of Money?


ValueInsured is offering down payment insurance to home owners. But is it a smart investment or a waste of money?

MorePixels/iStock

6:41 pm ET
April 15, 2016April 15, 2016

The housing crash of 2008 shattered the long-held notion that a home is a rock-solid, inviolable investment in your future. With home prices climbing steadily again to what seems like improbable (and possibly unsustainable) heights in some markets, many fear that we’re in another housing bubble—one that could burst, taking their life savings with it.

That’s why buyers may see the appeal in a new product from Dallas-based startup ValueInsured: +Plus, down payment insurance for homeowners. In a nutshell: It offers protection where protection didn’t previously exist.

However, the jury is

... read more at: http://www.realtor.com/news/trends/down-payment-insurance/

The Kramer Quotient

I
‘ll always remember first arriving in Seattle

for college all those years ago. My new University of Washington classmates seemed enchanted that I was from a land so far away called “Spokane.” They’d look at me like I was a lost tribesman of Indonesia and just repeat it to me, “Really, Spokane. Huh!”

Later, in grad school in Missouri or working in Boston, I finally gave up telling people I was from Spokane because they had no idea what I was talking about. I just started telling people I was from Seattle. “Oh, Seattle! I love Seattle,” they’d say, like I passed the cool test.

click to enlarge

... read more at: http://www.inlander.com/spokane/the-kramer-quotient/Content?oid=2742521

Meet the Merchant – The Natural Nook

The Natural Nook owner Cathie Cates, left, and manager Connie Cosner run the florist and garden center in Gearhart.

CYNTHIA WASHICKO PHOTO

The Natural Nook owner Cathie Cates, left, and manager Connie Cosner run the florist and garden center in Gearhart.

Connie Cosner, left, and Cathie Cates at the Natural Nook keep customers coming in during the slow and busy seasons by offering a florist and garden center.

CYNTHIA WASHICKO PHOTO

Connie Cosner, left, and Cathie Cates at the Natural Nook keep customers coming in during the slow and busy seasons by offering a florist and garden center.

The Natural Nook

738 Pacific Way

Gearhart, OR 97138

503-738-5332

How did you get your start as a florist?

Cathie Cates: Well, I retired from the phone company and, after three months I went crazy being

... read more at: http://www.dailyastorian.com/CRBJ/20160413/meet-the-merchant-the-natural-nook

Living on a Prayer

361 CPW is a forbidding stone monolith on the corner of 96th Street just across from the park, anchoring blocks of stately condo buildings, the kind that come with individual names on their entrance awnings and multiple doormen. It was designed in 1889 by the firm Carrere Hastings, who were assigned the project just after they won another commission to design the main branch of the New York Public Library. Photographs of the interior just after it was built show a grand space cut with barrel vaults and covered in Art Nouveau filigree. An enormous organ rises above the altar, below the words, “God is love and he that dwelleth in love dwelleth in God and God in him.” The church was landmarked by the city in 1974. According to the Landmarks Preservation Commission’s original notice, the building “is indicative of the freedom of design achieved by the best

... read more at: http://www.curbed.com/2016/4/13/11409680/church-condo-conversions-controversy