REDMOND, WASH. — AvalonBay (NYSE: AVB) has sold Archstone Redmond Lakeview Apartments, a 166-unit community in Redmond, 15 miles west of Seattle to TruAmerica. CBRE arranged the $63.3 million sale. Archstone Redmond Lakeview Apartments was built in 1987 on the Lake Sammamish waterfront. The property has one- and two-bedroom units with private patios, walk-in closets and fireplaces. It also has direct access to a private dock with 45 income-generating boat slips. Community amenities include a renovated clubhouse, fitness center, canoe parking, a pet area and an outdoor deck with views of Lake Sammamish. CBRE’s Eli Hanacek, Mark Washington, Kyle Yamamoto and Natalie Kasper represented AvalonBay. TruAmerica will rebrand the community as The Docks at Redmond Lakeview.
Archstone Redmond Lakeview Apartments is one of seven multifamily properties in the Seattle metro area that are adjacent to Lake Sammamish, according to CBRE, which brokered the sale of the asset. AvalonBay sold the property for $63.3 million. (Image credit: Levi Clark Soundview Photography)
AvalonBay Sells Seattle Asset for $63.3 Million
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