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Seattle & Northwest  + Washington  + Apartments  | 
Kidder Mathews Advises in 14-Unit Spokane Apartment Sale

Report: Eastern Washington Sees Record-Setting Multifamily Sales

Max Frame of Kidder Mathews’ Simon and Anderson Multifamily Team has released third quarter research on the Eastern Washington apartment market, and the report indicates the region experienced record-setting sales volume.

According to the report, which tracks trends and sales data for Chelan, Douglas, Kittitas, Yakima, Grant, Lincoln, Adams, Franklin, Benton, Walla Walla, Spokane and Whitman Counties, there was over $412 million in total sales. Five sizable sales led the way: Granite Point in Spokane Valley ($145M), Big Trout Lodge in Liberty Lake ($79M), Crosspointe in Kennewick ($44M) and Shoreline Village ($49M) and Riverpointe ($54M) in Richland.

“While cap rates dipped in Q3, we expect an increase in upcoming months due to the rising interest rates,” said Frame in a news release. “While transactions are still getting done, lending has become a much larger factor. For motivated sellers, we have seen an increase in seller-financed transactions.”

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Kidder Mathews' Max Frame

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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