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February 23, 2011

Kidder Mathews Completes 200-Unit Multi-Family Property Sale

SEATTLE, WA - Kidder Mathews completed the largest multi-family real estate transaction in Snohomish County so far this year, and the second deal over 100 units in the greater Puget Sound region. Waterford Place, a 200-unit property located in the Silver Lake area of Everett, Washington, sold for $18.2 million. Kidder Mathews represented the sellers, AVF III Silver Lake, LLC, in the sale to CP III Waterford, LLC.

The Kidder Mathews brokers involved in the deal concur that the Puget Sound market is beginning to show signs of improvement for investment sales in both income and volume. Cap rates for South Everett are in the sub-6% range and it seems buyers are betting on projected rent growth.

Kidder Mathews is one of the largest independently owned commercial real estate firms on the West Coast with more than 200 brokers in 9 offices in Washington, Oregon, and California, and performed $1.95 billion in transactions last year. For more information, go to www.kiddermathews.com

For inquiries, please contact Karen Benoit at 206.296.9600 or email: kbenoit@kiddermathews.com

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