HFO Investment Real Estate (HFO) has sold the 198-unit Meadows at Cascade Park Apartments in Vancouver for $35,250,000.
Located at 13314 SE 19th Street, the apartment complex features five different floor plans and full-service amenities including a seasonal pool and spa, fitness center and clubhouse.
The sale represented a price per unit of $178,030, or $177 per square foot.
“Renter demand for apartments outside of the urban core continues to drive vacancies lower, and rents higher, in markets like Vancouver and Gresham – and investors have clearly taken notice,” said HFO partner Tyler Johnson.
According to HFO, the seller was a Canadian investment firm with numerous Portland/Vancouver area holdings; the buyer was a California-based firm looking to enter the market.
