Home Finance 92-Unit Port Orchard Property Portfolio Sells for $8.65MM

92-Unit Port Orchard Property Portfolio Sells for $8.65MM

Port Orchard, Kidder Mathews, Holly Terrace, Hidden Terrace, Manchester Heights, Timberlane Partners, Seattle
Port Orchard, Wash. Courtesy of Kimi Albertson

(EDITOR’S  NOTE: According to industry sources, the three properties traded were located at 4110 Madrona Drive SE in Port Orchard, 4945 Hidden Terrace Lane SE, and 1750 Jackson Avenue SE. All three properties were located in Port Orchard, Wash.)

Seattle, Wash. (May 3, 2021) – Holly Terrace, Hidden Terrace, and Manchester Heights, a three-property apartment portfolio totaling 92 units in Port Orchard, Washington, sold for $8,650,000 in an off-market sale sourced and structured by Kidder Mathews. Brandon Lawler, Jerrid Anderson, and Dylan Simon of The Simon and Anderson Team, a multifamily investment team based in Kidder Mathews’ Seattle headquarters, exclusively represented the buyer Timberlane Partners, a local private real estate investment firm. 

All three properties were built in the 1970s and remained in their original condition. The seller, a local family, privately owned and managed the buildings for nearly 50 years. The portfolio acquisition was an ideal fit for Timberlane Partner, who is planning an extensive modernization and updating program, breathing new life into the properties.

“We want to thank both the buyer and seller for an extremely smooth transaction,” said Lawler. “The properties were family-held for nearly half a century and were an integral part of the family’s history. Our team was proud and honored to structure a transaction allowing all three legacy properties to pass into the hands of a competent buyer seamlessly,” he said.

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 eight brokerage professionals specializes in sale and financing of apartment buildings and development land from $1 million to in excess of $100 million.

About Kidder Mathews
Kidder Mathews is the largest independently owned 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, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $8 billion in transactions, manages over 70 million square feet of space, and conducts over 1,800 appraisals annually.