October 17, 2016
Green Leaf Partners sold its 390-unit Green Leaf Monterey Apartments in Happy Valley, OR to MG Properties Group of San Diego. The seller, also from California, pocketed $76 million upon closing. Cody Hagerman, Tyler Johnson, Greg Frick and Rob Marton with HFO Investment Real Estate brokered the transaction.
The multifamily asset is situated on 11 acres at 8640 SE Causey Ave. Happy Valley is within the Portland MSA. “This property has been continually upgraded over the past few years, which has significantly increased its value. Green Leaf Monterey offers an investor a critical mass of units that can benefit from a program of continual improvements and enhancements,” Hagerman said.
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