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Global real estate investor Kennedy Wilson acquired the 210-unit Latitude Apartments in Happy Valley for $58M. The seller was the Bay Area-based Reliant Group.
The sale represents the second-largest apartment transaction for Clackamas County this year, according to HFO Investment Real Estate, which facilitated the deal. The price per unit was more than $276K/unit, or $243/SF.
Built in two phases between 2008 and 2014, Latitude Apartments consists of 33 three-story apartment buildings and one clubhouse on about 6.9 acres. The property is across from Clackamas Town Center.
"Happy Valley is an affluent area with high employment in healthcare, professional services and retail," HFO partner Cody Hagerman said. "Latitude Apartments is an example of condo-quality housing that's in high demand."
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