Honeysuckle Apartments, a 30-unit multifamily property located at 202 19th Avenue East in Seattle’s Capitol Hill neighborhood, has sold for $5,930,000.
Dylan Simon, Jerrid Anderson, and JD Fuller of the Simon | Anderson Multifamily Team at Kidder Mathews represented the seller, a private ownership group. The team also sourced the buyer, a group of affordable housing investors including Great Expectations SPC, a Seattle-based Social Purpose Corporation focused on affordable housing.
Honeysuckle has been providing low-income seniors from the Central Area community with affordable homes for seniors for nearly 50 years. It’s been owned by the family of the original developer up until this point. The new owner, in partnership with local nonprofit Root and Branch, will renovate the building and continue providing deeply affordable housing for elderly and disabled residents. The transaction included private equity, new Freddie Mac financing, and the assumption of a long-term HUD Housing Assistance Payments (HAP) Section 8 contract, ensuring lasting affordability and stability for the community.
“We are honored to steward the next chapter of Honeysuckle Apartments,” said Ben Maritz, Managing Director of Great Expectations SPC. “Our Social Purpose Corporation structure commits us to delivering both community benefit and financial sustainability, and this property is a perfect example. By partnering with Root and Branch, we will be able to provide not just homes, but also supportive resources for seniors to thrive in place.”
The apartment brokerage team led by Dylan Simon and Jerrid Anderson of Kidder Mathews represents apartment investors, developers, and landowners in the sale and purchase of apartment buildings and development land across the entire State of Washington. The team of 12 brokerage professionals specializes in the sale and purchasing of apartment buildings and development land from $1 million to more than $100 million. For more information, visit simonandersonteam.com.
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 20 offices across Washington, Oregon, California, Idaho, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages more than 58 million square feet of space, and conducts 2,400 appraisal, consulting, and cost segregation assignments annually.
