NEW ALLIANCE ACQUIRES FIRST PROPERTY FOR $32.45 MILLION

KENT, WASH. — San Francisco-based JB Matteson has formed an alliance with Los Angeles-based Griffin Capital Corp. JB Matteson has been engaged as real estate advisor and asset manager for the acquisition, finance and asset management of multifamily properties in the Western United States, while Griffin has engaged JB Matteson for multifamily investments. The alliance recently purchased Waterford at the Lakes, a 344-unit apartment community located in Kent. Griffin purchased the property for $32.45 million. JB Matteson managed the acquisition and coordinated the Fannie Mae financing. Additionally, JB Matteson will provide asset and construction management services for the investment.