80-Unit Vancouver Apartment Portfolio Changes Hands for $20M
Kidder Mathews has represented WDC Properties in the disposition of a trio of apartment complexes in the Portland, OR submarket of Vancouver, WA. The portfolio, comprised of Broadway (pictured), Hamilton and Eliza, all located on Broadway Street, was purchased by an undisclosed buyer for $20 million.
The Portland-based Kidder Mathews’ multifamily team of Jordan Carter, Clay Newton and Tyler Linn facilitated the deal. “Many investors now prefer Vancouver over Portland as it has seen tremendous growth while not being subject to the same regulatory hurdles as across the river,” said Carter.
All three properties were recently developed by WDC and are located in Vancouver’s Uptown Village neighborhood. “We continue to see Vancouver as a strong and viable marketplace with population growth and rental demand,” said WDC Properties Principal Mark Madden. “Our projects’ dispositions provide additional capital for our future developments and will help offset higher interest rates for new projects.”
- ◦Sale/Acquisition