PORTLAND, OR—HFF has concluded the $53 million sale of Harrison Tower, a 24-story, 185-unit luxury residential tower in downtown Portland.

HFF marketed the property on behalf of the seller, an institutional investor. Sequoia Equities, Inc., based out of Walnut Creek, CA, purchased the asset.

Harrison Tower is one of only five residential buildings more than 20 stories tall in downtown Portland, which gives residents views of the city, mountains and Willamette River. From 2005 to 2008, Harrison Tower units were renovated into luxury condominiums prior to the building being sold and leased as apartments. Part of the $5.5 million upgrades included granite countertops, new cabinets, floor-to-ceiling operable windows, new bathroom vanities, bamboo flooring, glass top stoves and stainless steel appliances. Community amenities include a courtyard with multiple private eating areas, covered outdoor kitchen, outdoor pool and spa, cyber café, clubhouse, conference room, 24-hour fitness center, outdoor sundeck, sauna, covered parking, secure bicycle storage areas and upgraded laundry area. Located at 222 SW Harrison Street between SW 1st and SW 4th Streets in Portland's central business district, Harrison Tower has a streetcar stop directly outside the property, and a new MAX Light Rail stop two blocks away.