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HFF Advises Recapitalization Process for 166-Unit Apartment Building

Ira Virden

With more than 10 years of experience in the finance and commercial real estate industry, Ira Virden has helped facilitate over $3 billion in transactions. Since 2012, Ira Virden has served as the managing director of HFF, a commercial real estate agency in Portland, Oregon.

In March of 2018, HFF announced the successful debt and equity recapitalization of a 166-unit apartment building in Portland on behalf of Guardian Real Estate Services and Ares Management. HFF also organized a 10-year, floating-rate loan for the partnership through Freddie Mac's capital markets execution program.

Known as Oxbow 49, the apartment complex is located alongside the Willamette River in Portland's John's Landing neighborhood, a short drive from the city's central business district. The complex has one- and two-bedroom units as well as studio apartments, all featuring washers and dryers and modern finishes such as stainless steel appliances, quartz countertops, and faux wood flooring. Oxbow 49 has a LEED (Leadership in Energy and Environmental Design) Silver rating from the US Green Building Council.

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