A newly-constructed, marquee apartment building located in the Issaquah Highlands, a suburb of Bellevue, Washington, sold last week in a transaction structured by Kidder Mathews. Heartwood Apartments sold for $103.75 million.
Dylan Simon, Matt Laird, and Jerrid Anderson of the Simon and Anderson team, a multifamily investment team based in Kidder Mathews’ Seattle headquarters, and Dave Schumacher of Colliers International, represented the seller in the marketing and sale of the property and directly sourced the buyer.
Heartwood Apartments is a 135-unit iconic luxury apartment community located at the center of the Issaquah Highlands. The building was completed in summer 2021 and fully stabilized in early 2022. The building is located on a mountain plateau next to a private lake and boasts a plethora of modern amenities and striking 360-degree views of mountain vistas and Lake Sammamish.
“We want to thank the seller and buyer for an extremely smooth transaction,” said Simon. “The Pacific Northwest apartment market remains extremely vibrant. This pricing is reflective of buyers in our marketplace recognizing the quality of Heartwood Apartments and the strength of both the Issaquah submarket and Pacific Northwest apartment market as a whole.”
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 10 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.