KENMORE, WA—California firm JB Matteson, Inc., has acquired Northshore Townhomes, a class A, 86-unit, rental condominium property here, near Seattle.
JB Matteson acquired the townhomes for $22.1 million. Originally designed and developed in 2009 as condominiums, Northshore Townhomes consists of 86 two- and three-bedroom townhomes in 11 buildings averaging 1,446 square-feet. The property features 125 parking spaces in a mix of private garages, carports and open stalls. The seller was Grosvenor Americas USA. Jon Hallgrimson and Frank Bosl of CBRE managed the marketing and sale process.
“Like our other Seattle-area acquisitions, Northshore Townhomes fits within our strategy of acquiring new high-quality multifamily properties in major metropolitan areas,” said John Bellack, president, JB Matteson Inc.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
