Kidder Mathews is pleased to announce the sale of Edison Apartments for $19.5 million. The 64-unit multifamily property is located at 1833 Southeast 6th Street in Gresham, Oregon. Kidder Mathews’ team of multifamily investment brokers, Jordan Carter, Clay Newton, and Tyler Linn exclusively represented the seller, Trion Properties. RM Communities was the buyer.
According to Jordan Carter, Executive Vice President with Kidder Mathews, “Edison Apartments was a unique and highly desirable opportunity in our market — a newly built suburban asset with significant loss-to-lease given the dramatic rent growth it experienced over the 15 months since it initially started leasing.”
Edison Apartments was completed in 2020, and the suburban asset features 64 modern apartment homes with high-quality finishes and is just a five-minute drive from historic downtown Gresham and 25 minutes to downtown Portland.
About Kidder Mathews
Kidder Mathews is the largest independent commercial real estate firm on the West Coast, with 900 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, asset services, consulting, project and construction management, and debt & equity finance services for all property types. The firm performs $10.9 billion in transactions, manages 62 million square feet of space, and conducts over 2,600 appraisals annually. For more information, visit kidder.com.