Individual Portland Apartment Sales >$450K – June 2012

<<<Jun12vsJun11_PortlandArea_AptSales>>>

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Above is a table of individual Portland-area sales of apartment complexes greater than $450,000 in June 2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to June 2011 averages.  June 2011 had 3 sales that totaled almost $100M which skews the averages.

June 2012 is the second month in a row without any large (>50 units) sales.  A comparison to June 2011 is difficult since there were 3 large sales in Jun 11 and none in Jun 12, however, sales figures seem flat.

However, we look to be about even with what was sold in 2011.  Below are projected numbers for 2011 vs. projected 2012 (based on numbers thru June 2012 annualized):

If you’d like more information on:

– A comparative analysis of your property vs. your neighborhood with specific comp properties for sale and listed and a rent survey, or

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using FInancial Analysis

Please contact me:

Steve Morris – Senior Advisor Multi-Units
Sperry Van Ness – Bluestone & Hockley
steve.morris@svn.com (503) 970-4593

Individual Portland Apartment Sales >$450K – May 2012

<<<May12vsMay11_PortlandArea_AptSales>>>

RIGHT-CLICK ABOVE LINK (and SAVE LINK AS) TO DOWNLOAD THE DETAILED REPORT

Above is a table of individual Portland-area sales of apartment complexes greater than $450,000 in May 2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to May 2011 averages.

May 2012 is the first month in a long time without any large (>50 units) sales.  The sales figures show about a 10% increase in the metrics ($/unit and $/sqft) over 2011.

The Portland rental market and continuing down/bottoming trend in interest rates are still driving operating metrics in a positive direction for landlords.

New construction permits are showing a potential of 10,000 new units being added to inventory (mostly close-in Portland).  However, these shouldn’t compete with existing stock due to the cost of building, especially govt “go-away” fees, that make it difficult to offer competing rents.

Sellers – You need to make sure your NOI is the best it can be if you want top dollar and demand.  We can help you:

– Find out where you stand today compared to your competition

– What to work on to increase income

Buyers – A ‘hot” market can be good or bad.  You need to understand what you are buying and have a game plan to make it profitable for you.

Smaller investors are still hesitant, but are coming back into the market. The lure of low interest rates is slowly thawing buyer hesitancy.

If you’d like more information on:

– A comparative analysis of your property vs. your neighborhood with specific comp properties for sale and listed and a rent survey, or

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using FInancial Analysis

Please contact me:

Steve Morris – Senior Advisor Multi-Units
Sperry Van Ness – Bluestone & Hockley
steve.morris@svn.com (503) 970-4593

Individual Portland Apartment Sales >$450K – April 2012

<<<Apr12vsApr11_PortlandArea_AptSales>>>

RIGHT-CLICK ABOVE LINK (and SAVE LINK AS) TO DOWNLOAD THE DETAILED REPORT

Attached is a table of individual Portland-area sales of apartment complexes greater than $450,000 in April 2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to April 2011 averages.

There was 1 large transaction of 440 units.   However, they were in the Beaverton area which is almost to the levels of close-in Portland for rental demand and potential for growth.  In April 2011, there were 3 transactions of complexes > 500 units which skewed sales averages.

In general, $/sqft is trending up along with average CapRate trending down.  This is directly related to the strength of the Portland rental market and continuing down/bottoming trend in interest rates.

Sellers – You need to make sure your NOI is the best it can be if you want top dollar and demand.  We can help you:

– Find out where you stand today compared to your competition

– What to work on to increase income

Buyers – A ‘hot” market can be good or bad.  You need to understand what you are buying and have a game plan to make it profitable for you.

Smaller investors are still hesitant, but are coming back into the market. The lure of low interest rates is slowly thawing buyer hesitancy.

If you’d like more information on:

– A comparative analysis of your property vs. your neighborhood with specific comp properties for sale and listed and a rent survey, or

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using FInancial Analysis

Please contact me:

Steve Morris – Senior Advisor Multi-Units
Sperry Van Ness – Bluestone & Hockley
steve.morris@svn.com (503) 970-4593

Individual Portland Apartment Sales >$450K – March 2012

<<<Mar12 vs Mar11 PortlandArea Apt Sales>>>

RIGHT-CLICK ABOVE LINK (and SAVE TARGET) TO DOWNLOAD THE DETAILED REPORT

Attached is a table of individual Portland-area sales of apartment complexes greater than $450,000 in March 2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to March 2011 averages. 

There were 2 large transactions >200 units, both in outlying suburbs of Portland.   However, they were in the Beaverton area which is almost to the levels of close-in Portland for rental demand and potential for growth.

Sellers – You need to make sure your NOI is the best it can be if you want top dollar and demand.  We can help you:

– Find out where you stand today compared to your competition

– What to work on to increase income

Buyers – A ‘hot” market can be good or bad.  You need to understand what you are buying and have a game plan to make it profitable for you.

Smaller investors are still hesitant, but are coming back into the market. The lure of low interest rates is slowly thawing buyer hesitancy.

If you’d like more information on:

– A comparative analysis of your property vs. your neighborhood with specific comp properties for sale and listed and a rent survey, or

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using FInancial Analysis

Please contact me:

Steve Morris – Senior Advisor Multi-Units
Sperry Van Ness – Bluestone & Hockley
steve.morris@svn.com (503) 970-4593

Individual Portland Apartment Sales >$450K – February 2012

<<<Feb12 vs Feb11 Portland-Area Apartment Sales>>>

RIGHT-CLICK ABOVE LINK (and SAVE TARGET) TO DOWNLOAD THE DETAILED REPORT

Attached is a table of individual Portland-area sales of apartment complexes greater than $450,000 in Febuary 2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to February 2011 averages. 

There were 2 large transactions >200 units, both in outlying suburbs of Portland. 

The ongoing love affair with larger urban properties continues.  Is this a “hot” market?  If you own larger Class A apartments, the answer is yes and your only issue is selecting the best offer.

Sellers – You need to make sure your NOI is the best it can be if you want top dollar and demand.  We can help you:

– Find out where you stand today compared to your competition

– What to work on to increase income

Buyers – A ‘hot” market can be good or bad.  You need to understand what you are buying and have a game plan to make it profitable for you.

Smaller investors are still hesitant, but are coming back into the market. The factors driving growth in sales include:

– Low vacancy rates (<4% in Portland proper)

– Low interest rates (7-/10-year money available at <5%).  Right now, the spread between CapRates and prevailing interest rates is at high point which bodes well for buyers.

If you’d like more information on:

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using FInancial Analysis

Please contact me:

Steve Morris – Senior Advisor Multi-Units
Sperry Van Ness – Bluestone & Hockley
steve.morris@svn.com (503) 970-4593

Portland Apartment Sales Detailed – January 2012

<<<Jan12vsJan11 Portland-Area AptSales>>>

RIGHT-CLICK ABOVE LINK (and SAVE TARGET) TO DOWNLOAD THE DETAILED REPORT

Attached is a table of Portland-area sales of apartment complexes greater than $450,000 in January 2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to January 2011 averages.  The overall increase in apartment sales continues.

There were 2 large transactions >200 units.  We’ve set another record in the $/unit pricing of $395,000.  However, this property (Museum Place) has one floor of retail (Safeway) which would probably drop the $/unit price to something around $375K which is still impressive.  In addition, a large complex in the South Waterfron neighborhood sold.

Unfortunately, this ardor has not transferred to smaller (<80 units) buyers and is contributing to an ongoing bid-ask spread between buyers and sellers.

The ongoing love affair with larger urban properties continues.  Is this a “hot” market?  Well, if you own larger Class A apartments, the answer is yes and your only issue is selecting the best offer.

Sellers – If the market is not as hot as you’d like, in any case, you need to make sure your NOI is the best it can be if you want top dollar and demand.  We can help you:

– Find out where you stand today compared to your competition

– What to work on to increase income

Buyers – A ‘hot” market can be good or bad.  The main thing is you need to understand what you are buying and have a game plan to make it profitable for you.

Smaller investors are still hesitant, but are coming back into the market. The factors driving growth in sales include:

– Low vacancy rates (<4% in Portland proper)

– Low interest rates (7-/10-year money available at <5%).  Right now, the spread between CapRates and prevailing interest rates is at high point which bodes well for buyers.

If you’d like more information on:

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– Free copy of our 80-page book – Buying, Selling and Operating Apartments

Please contact me:

Steve Morris – Senior Advisor Multi-Units
Sperry Van Ness – Bluestone & Hockley
steve.morris@svn.com (503) 970-4593

Portland Apartment Sales – December 2011

<<<Dec11vsDec10_PortlandArea_AptSales>>>

RIGHT-CLICK ABOVE LINK (and SAVE TARGET) TO DOWNLOAD THE DETAILED REPORT

Attached is a table of Portland-area sales of apartment complexes greater than $450,000 in December 2011. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to November 2010 averages.  The overall increase in apartment sales continues.

There were 3 transactions >200 units.  Since I’ve weighed the averages, this puts the $/unit higher than in Dec 10.  I will be sending an update of 2006-2011 averages next month, but if you want an earlier copy eMail me (steve.morris@svn.com)

The ongoing love affair with larger urban properties continues.  Is this a “hot” market?  Well, if you own larger Class A apartments, the answer is yes and your only issue is selecting the best offer.

Sellers – If the market is not as hot as you’d like, in any case, you need to make sure your NOI is the best it can be if you want top dollar and demand.  We can help you:

– Find out where you stand today compared to your competition

– What to work on to increase income

Buyers – A ‘hot” market can be good or bad.  The main thing is you need to understand what you are buying and have a game plan to make it profitable for you.

Smaller investors are still hesitant, but are coming back into the market. The factors driving growth in sales include:

– Low vacancy rates (<4% in Portland proper)

– Low interest rates (7-/10-year money available at <5%).  Right now, the spread between CapRates and prevailing interest rates is at high point which bodes well for buyers.

If you’d like more information on:

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– Free copy of our 80-page book – Buying, Selling and Operating Apartments

Please contact me:

Steve Morris – Senior Advisor Multi-Units
Sperry Van Ness – Bluestone & Hockley
steve.morris@svn.com (503) 970-4593

Portland Apartment Sales – November 2011

<<<Nov11 vs Nov10 – Portland Area Apartment Sales>>>

RIGHT-CLICK ABOVE LINK (and SAVE TARGET) TO DOWNLOAD THE DETAILED REPORT

Attached is a table of Portland-area sales of apartment complexes greater than $450,000 in November 2011. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to November 2010 averages.  The overall increase in apartment sales continues.

For reference, in November the sale of one apartment reached $360K/unit which is a record for Portland – So far.  The Broadstone Enzo was constructed as condos, however, hit the market too late for sales and was turned into rentals. 

Again, the ongoing love affair with larger urban properties continues.  As of today (29 Dec 11), December looks like a slower month, but there are going to be some larger Class A properties closing in Jan/Feb 2012 based on chatter.

Is this a “hot” market?  Well, if you own larger Class A apartments, the answer is yes and your only issue is selecting the best offer.

Sellers – If the market is not as hot as you’d like, in any case, you need to make sure your NOI is the best it can be if you want top dollar and demand.  We can help you:

– Find out where you stand today compared to your competition

– What to work on to increase income

Buyers – A ‘hot” market can be good or bad.  If you were convinced to over-pay in 2007, you may still be waiting for recovery.  Analyzing a property closely BEFORE purchase can ensure you are netting income regardless of price.

Smaller investors are still hesitant, but are coming back into the market. The factors driving growth in sales include:

– Low vacancy rates (<4% in Portland proper)

– Low interest rates (7-/10-year money available at <5%).  Right now, the spread between CapRates and prevailing interest rates is at high point which bodes well for buyers.

If you’d like more information on:

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– Free copy of our 80-page book – Buying, Selling and Operating Apartments

Please contact me:

Steve Morris – Senior Advisor Multi-Units
Sperry Van Ness – Bluestone & Hockley
steve.morris@svn.com (503) 970-4593