A two-property portfolio of apartment buildings at the West Seattle Junction sold today in a transaction structured by Kidder Mathews. Junction Flats and Junction Landing sold for a combined price of $58.3 million. Junction Flats is located at 4433 42nd Avenue Southwest, and Junction Landing is located at 4417 42nd Avenue Southwest.
Jerrid Anderson, Brandon Lawler, and Dylan Simon of the Simon and Anderson Team, a multifamily investment team based in Kidder Mathews’ Seattle headquarters, represented the seller in the marketing and sale of the property and directly sourced the buyer.
The two buildings, comprised of an 80-unit building opened in 2016 and a 62-unit building opened in 2020, are ideally located on a quiet residential street just blocks off the vibrant West Seattle Junction. These modern buildings contain a plethora of modern amenities and striking 360-degree views of the entire Puget Sound.
“We want to thank the seller and buyer for an extremely smooth transaction,” said Anderson. “The West Seattle market remains extremely vibrant, despite challenges of the West Seattle bridge closure and a brief market slowdown during COVID-19. Buyers recognized the quality of these assets and the strength of the West Seattle rental market.”
About the Dylan Simon and Jerrid Anderson apartment brokerage team
The apartment brokerage team led by Dylan Simon and Jerrid Anderson of Kidder Mathews represents investors in the sale, purchase, and financing of apartment buildings and development land across the greater Seattle and Puget Sound region. The team of eight brokerage professionals specializes in sale and financing of apartment buildings and development land from $1 million to more than $100 million. For more information, visit simonandersonteam.com.
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.