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July 06, 2011

Kidder Mathews' Philip Assouad and Giovanni Napoli Close $13.25M Renton Apartment

RENTON, WA - Grosvenor USA, along with MT Asset Management LLC, a partnership between Mosaic Homes and Thrive Communities, purchased the Borgata Apartment Homes in Renton, WA for $13,250,000. Philip Assouad and Giovanni Napoli of Kidder Mathews brokered the transaction.

Built in 2003, this 83-unit community consists of townhomes with attached garages, a clubhouse, leasing office, fitness center and pool area. Borgata is located near top employers Valley Medical Center and Boeing.

This marks the third apartment acquisition for the buyers in the past 12 months, with prior purchases including Northshore Townhomes and Woodcreek Apartments. These three transactions represent over $50 million in new purchases for this investment group.

Brokers Napoli and Assouad have closed $81 million worth of apartment transactions in the past 9 months.

About Kidder Mathews
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, performing $1.95 billion in transactions annually. 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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