Kidder Mathews, a leading commercial real estate firm, recently completed the sale of Clara Flats in Camas, Washington for $11.9 million. The 30-unit mixed-use apartment building was built in 2020 and includes two fully leased retail spaces.
The property is situated at 608 NE Birch Street and offers stunning views of downtown Camas as well as nearby mountains and rivers. Jordan Carter, Clay Newton, and Tyler Linn from Kidder Mathews’ Portland-based multifamily investments team facilitated the transaction on behalf of WDC Properties – a prominent development company based in Portland.
According to Mark Madden, CEO and owner of WDC Properties: “We see Southwest Washington as a thriving market with strong population growth and high rental demand.” The buyer was from out-of-state looking for an opportunity to defer taxes through a 1031 exchange. They were drawn to Clara Flats due to its desirable assumable loan terms.
“Camas is highly sought after by investors but there are limited options available – especially newly constructed buildings,” stated Jordan Carter who serves as Executive Vice President at Kidder Mathews. This successful sale highlights the attractiveness of this region’s multifamily market which continues to draw interest from both local buyers like WDC Properties as well out-of-state investors seeking lucrative opportunities such as Clara Flats.
