HFF Announces $66M Sale and Financing for Urban Value-add Community in Portland’s Lloyd District

PORTLAND, OR – Holliday Fenoglio Fowler, L.P. (HFF) announces the $66 million sale of and financing for Axcess 15, a 202-unit, transit-oriented apartment property in the Lloyd District of Portland, Oregon.

The HFF team represented the seller, Waterton, and procured the buyer, MG Properties Group.  Additionally, the HFF team worked on behalf of the new owner to secure a loan through Freddie Mac’s CME Program.  The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

Located at 1500 NE 15th Avenue, Axcess 15 is within a short distance to several grocery stores and other retail and entertainment amenities, including Lloyd Center Mall, Moda Center and Oregon Convention Center.  The four- and five-story property features a mix of one- and two-bedroom units averaging 851 square feet as well as more than 18,000 square feet of 100-percent-leased ground-floor retail.  Community amenities include a 24-hour fitness center, business center, resident lounge, landscaped courtyards and controlled access parking.  Unit amenities include open layouts with breakfast bars, in-unit washers and dryers, and balconies or patios.

The HFF investment advisory team representing the seller included senior managing director Ira Virden and director Carrie Kahn.

HFF’s debt placement team representing the borrower consisted of senior managing director Charles Halladay and directors Scott Gilson and Rick Salinas.

About Waterton: Waterton is a real estate investor and operator with a focus on U.S. multifamily and hospitality properties.  Founded in 1995, Waterton executes value-add strategies and manages a national portfolio of multifamily and hospitality properties on behalf of institutional investors, family offices and financial institutions.  Waterton is privately held and is headquartered in Chicago with regional teams throughout the United States.  As of March 31, 2018, Waterton’s portfolio includes approximately $4.0 billion in real estate assets.  Visit Waterton’s website: waterton.com.

About MG Properties Group: MG Properties Group (mgproperties.com) is a privately owned West Coast real estate owner and operator specializing in multi-housing assets.  Since 1992, the company has acquired and managed over 140 properties totaling over 20,000 units.  Today, MG Properties Group manages over 17,000 apartment homes in over 55 communities in high-growth cities in California, Arizona, Nevada, Washington and Oregon.  The company’s apartment portfolio has a total market value of over $2 billion.

About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.  HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.  Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

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