Kidder Mathews has arranged the sale of Etta Ballard, a mid-rise, 80-unit apartment building in Ballard, WA. Thayer Manca Residential (TMR) purchased the property from Auctus Capital Partners for an undisclosed price.
The multifamily complex was built in 1989, but recently went through a change of use from senior independent living to market rate apartments. The seller and buyer in the transaction were both in 1031 exchanges. TMR plans to increase in-place rents as the Ballard market continues to flourish.
“Etta Ballard was perfect execution. The owners picked the right time to sell, we generated 11 offers, and they selected the buyer with the most experience,” said Kidder’s Jerrid Anderson who represented the seller along with Brandon Lawler and Dylan Simon of the firm’s Simon and Anderson multifamily investment team, based in Seattle.
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.