Vancouver apartments sell for $21 million

By: Lee Fehrenbacher//December 29, 2011//

Vancouver apartments sell for $21 million

Lee Fehrenbacher//December 29, 2011//

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Redwood City, Calif.-based has purchased a 244-unit apartment complex in Vancouver, Wash., for $21 million.

Tim Mitchell, director of sales and leasing for , the company that brokered the deal, said the Prairie Park Apartments 鈥� located at 11510 N.E. 112^th Drive 鈥� consist of 33 buildings on 10 acres of land. The multifamily development was built between 2007 and 2008 and includes 56 one-bed, one-bath apartments and 188 two-bed, one-bath apartments.

Mitchell said the seller was Prairie Park One LLC, and the original listing price was $22.5 million.

Mitchell also said the deal was a repeat transaction between the buyer and the seller.

Some of Matteson’s other properties include the Addison Apartments and the Madison Park Apartments in Vancouver, as well as the Reflections at Happy Valley Apartments and the Trails End Shopping Center in Portland.

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