Sage Homes Purchases Lakewood Apartment Portfolio for $21.5M
Kidder Mathews’ Simon and Anderson multifamily team has closed the $20.49 million off-market sale of Evergreen Court, Colonial Court and Garden Park, a three-property apartment portfolio in Lakewood, WA. Sage Homes Northwest acquired the communities from a private local owner.
“We want to thank the buyer for sticking with this transaction. From July when we went under contract to closing in January, a lot has changed in the financial markets. Having a very experienced and capable buyer was vital for this transaction to close given the volatile market conditions,” said Kidder’s Brandon Lawler, who represented the buyer, along with Jerrid Anderson and Dylan Simon.
Evergreen Court (pictured) consists of 40 units on 47th Avenue SW, Colonial Court is a 41-unit community on Lawndale Avenue SW and Garden Park features 49 units on Lincoln Avenue SW. Sage Homes plans on performing a value-add to the garden-style trio in order to bring rents up to market value.
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