Kidder Mathews Closes $39M Portland-Area Deal
The company worked on behalf of the seller and also procured the buyer for the 124-unit asset.
Kidder Mathews has facilitated the sale of 134th Street Lofts, a 124-unit multifamily property in Vancouver, Wash., for $38.8 million. The seller and developer of the property is Dean Kirkland Development, Yardi Matrix data shows.
The recently completed property is located at 13414 NE 23rd Ave. and comprises one- and two-bedroom units between 786 square feet and 1,119 square feet, according to the same data provider. Common-area amenities include a fitness center, clubhouse, community room and 183 parking spots.
The four-story building is located in the Salmon Creek area, 2.5 miles from Washington State University Vancouver, near Interstate 205, Legacy Salmon Creek Medical Center, 134th St. and multiple retail and dining spots.
Executive Vice Presidents Dylan Simon and Jerrid Anderson, along with Associate Vice President Max Frame from Simon and Anderson Multifamily Investment Team—which is based in Kidder Mathews’ Seattle office— worked on behalf of the seller and also procured the buyer.
According to a recent Yardi Matrix report, Portland’s economic recovery is well underway. The metro has regained some 68,000 jobs as of February 2022, and multifamily sales volume increased to more than $2.8 billion since the beginning of 2021.