JB Matteson Buys $28M Seattle Complex

San Mateo—JB Matteson Companies has invested $28.2 million in the acquisition of a Seattle-area apartment complex. Langara, purchased from Polygon, is a 134-unit apartment property in Issaquah, Wash.

The recent purchase continues a pattern of growth for the investment firm. San Mateo-based Matteson has now spent $240 million over the last year in West Coast multi-family properties, according to The San Francisco Business Times. With one additional purchase pending, over a 15-month period, Matteson expects to close more than $300 million in rental properties investments in major West Coast markets. Matteson’s new acquisitions were developed within the last 10 years, and are located in infill locations in major coastal markets from Southern California to Seattle. They include five in California as well as the 256-unit Deer Creek in Puyallup, Wash.