Kidder Mathews Arranges Seattle Portfolio Trade

SHORELINE, WASH. — The Simon Anderson multifamily team at Kidder Mathews has arranged a disposition and acquisition in the Seattle area. The buyer and seller was identified as John Stephanus, who is the president of Seattle-based Epic Asset Management. The four assets sold were Swiss Gables Apartments in Kent, Washington, 18 miles south of Seattle and Charbern Apartments, Stockbridge Apartments and Carolina Court Apartments, all of which are located around the Seattle metro. This portfolio totaled 215 units. The proceeds were used to acquire The Poshmark in Shoreline, 11 miles north of Seattle. Developed in 2020, The 243-unit community offers a mix of studios and one-, two- and three-bedroom units. According to Kidder Mathews, this transaction was a strategic repositioning of four vintage assets that had been held for more than 50 years into a newly constructed property.