Kidder Mathews Sells Third Spokane Apartment Complex in a Month

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This week, Max Frame of the Simon and Anderson team, a multifamily investment team at Kidder Mathews, sold The Lascelle Apartments for $1,900,000. This is the team’s third apartment sale in Spokane in the last month. Kidder Mathews represented the seller and was the only broker involved. The buyer was sourced before bringing the property to market.

The Lascelle Apartments, a converted hotel built in 1906, comprises 12 apartment units. The apartments are well located in the West Central neighborhood of Spokane at 1221 North Monroe Street, just north of Kendall Yards.

In mid-July, Frame sold The Lloyd Apartments, a 37-unit apartment building for $4,257,000 and The Annie Apartments, an 11-unit apartment building for $1,280,000.

Since July 1, 2022, Spokane has only seen five apartment sales above 10 units, with Kidder Mathews selling three.

“I want to thank all parties involved in this sale. With how competitive the Spokane apartment market is, it is great helping my clients get transactions across the finish line,” said Frame. “The buyer, seller, and lender were all a pleasure to work with and helped close this deal on time with no extensions.”

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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