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Kidder Mathews Closes Deal for Puyallup Multifamily
Bella on Canyon, a 140-unit apartment community in Puyallup, WA, has sold for $50.2 million. Kidder Mathews’ Bruce Peart and Arielle Dorman, along with Thad Berg from Windermere Chambers Bay, represented the buyer and seller. The seller was SEB, Inc., a Washington multifamily development company.
The property is located at 5402 141st St. East. It was built in 2012 by SEB and is currently 98% occupied. It’s a fully gated complex that includes a mix of studio, one-, two-, and three-bedroom apartments.
Bella on Canyon is located less than 4.5 miles from South Hill Costco and South Hill Mall, the major retail destination in the area with tenants including Target, Dick’s Sporting Goods, Macy’s, Old Navy, Olive Garden, and Regal Cinemas.
“SEB has a 30-year-plus track record of developing quality assets that align with market demands,” said Peart.
- ◦Sale/Acquisition
