
Gresham Apartments Mean “Unique” Investment Opportunity
Kidder Mathews closed the sale of Edison Apartments for $19.5 million. The 64-unit multifamily property is located at 1833 Southeast 6th St. in Gresham, OR, a suburb of Portland. The team of multifamily investment brokers Jordan Carter, Clay Newton and Tyler Linn represented the seller, Trion Properties. RM Communities was the buyer. Terms of the sale weren’t disclosed.
According to Carter, EVP with Kidder Mathews, “Edison Apartments was a unique and highly desirable opportunity in our market — a newly built suburban asset with significant loss-to-lease given the dramatic rent growth it experienced over the 15 months since it initially started leasing.”
Edison Apartments was completed in 2020, and the suburban asset features 64 modern apartment homes with high-quality finishes. It’s a five-minute drive from historic downtown Gresham and 25 minutes to downtown Portland.
- ◦Sale/Acquisition