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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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