A three-property multifamily portfolio totaling 215 units has sold for $35.2 million in Seattle.
Dylan Simon, Jerrid Anderson, Matt Laird, and JD Fuller of the Simon | Anderson Multifamily Team at Kidder Mathews represented the seller, longtime private owner John Stephanus, and sourced the buyer, Vista Investment Group, a Los Angeles-based firm making its first multifamily acquisition in the Seattle market.
The portfolio includes three classic brick buildings in the heart of Seattle, including the 67-unit Charbern Apartments, the 76-unit Stockbridge Apartments, and the 72-unit Carolina Court Apartments.
The properties had been privately owned for more than 50 years and were presented through a full marketing process that generated 33 tours. “This portfolio offered immediate scale in Seattle’s urban core and strong long-term fundamentals,” said Simon. “Vista recognized the value and moved quickly to secure all three assets as they expand into the Pacific Northwest.”
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