JB Matteson Acquires Prairie Home Apartments in Vancouver, WA

Class A, 120-unit apartment community in Vancouver, WA added to $1B plus portfolio

San Mateo (September 4, 2025) – JB Matteson, Inc., a 60-year-old San Francisco Bay Area-based private real estate investment manager, today announced the acquisition of Prairie Home Apartments, a recently stabilized, Class A apartment community in Vancouver, Washington. Prairie Home Apartments is JB Matteson’s second active investment in Vancouver and their fifth apartment investment in the Portland MSA.

Completed in 2023, the property consists of 120 apartment units with elevated interior finishes and a diverse mix of floor plans. The property features ample parking, including one covered carport spot per unit, a significant differentiator among its competitive properties. The residences feature full size washers and dryers, air conditioning units, and electric fireplaces alongside class A finishes such as quartz countertops and plank flooring. Prairie Home Apartments is well situated to attract and maintain a strong renter base looking for a suburban Portland lifestyle.

“Prairie Home Apartments will be a strong addition to JB Matteson’s growing Pacific Northwest portfolio” said Jamie Blake, Vice President, Investments. “Vancouver’s sustained population and job growth is attractive for multifamily investment and the success of our nearby investments in Vancouver gives us confidence in this location.”

Tom Fischer, Director of Capital Markets, added “The addition of Prairie Home Apartments to our portfolio continues JB Matteson’s investment strategy of acquiring high quality multifamily projects in major markets in the Western United States”.
Sean Worl of Colliers brokered the transaction on behalf of the seller, while Managing Directors Briana DeHaan and Dennis Williams with Northmarq arranged acquisition financing with a life insurance company.