Kidder Mathews Sells Apartment Portfolio in Spokane, WA for $5.497M

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Last week, the second of a two-property apartment portfolio sold in Spokane, Washington. The first sale, The Annie, sold July 8th, followed by The Lloyd, which closed on Friday, July 15th. Max Frame of the Simon and Anderson team, a multifamily investment team at Kidder Mathews, represented separate buyers in the sale of both properties and was the only broker involved.

The Lloyd, a 37-unit apartment complex built in 1911 with 33 residential units and four commercial units, sold for $4.257 million. Located in an up-and-coming corridor on the corner of West Mansfield Avenue and North Monroe Street, the buyer plans on renovating the entire building.

The Annie, built in 1910 and located at 1022 West Sinto Avenue, features two buildings and a total of 11 units. It sold for $1.24 million.

“I want to thank the seller and both buyers in the sale of these apartment buildings. With continued demand from buyers in the competitive Spokane market, it was great helping both of my clients expand their apartment portfolio,” said Frame.

About Max Frame

Working out of Kidder Mathews’ headquarters in Seattle, Washington, Max specializes in representing sellers and buyers in the sale of Eastern Washington apartments. Born and raised in Eastern Washington, Max combines his local knowledge and expertise of these markets with Kidder Mathews’ national exposure and outreach. Max works with Executive Vice Presidents Dylan Simon and Jerrid Anderson of the Simon and Anderson team.

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.

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