Washington

Museum-House-Seattle
FinanceNewsWashingtonWestern

Cushman & Wakefield Arranges $250M Refinancing for Museum House in Seattle

by Lynn Peisner

SEATTLE — Cushman & Wakefield has arranged the $250 million refinancing of Museum House, a 506-unit community in Seattle’s First Hill area that was completed in 2025. Dave Karson, Christopher Moyer, Alex Lapidus and Meredith Crawford represented the borrower, an undisclosed pension fund. Barings was the lender. Museum House comprises studio, one-, two- and three-bedroom residences, including 102 affordable homes for renters earning between 60 and 85 percent of area median income. The property consists of two residential towers connected by a glass-enclosed skybridge approximately 300 feet above ground as …

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Cascadia-at-Fairwood-Landing-Renton
Investment SalesNewsWashingtonWestern

Sack Capital Partners Sells Cascadia at Fairwood Landing for $47.5M

by Lynn Peisner

RENTON, WASH. — Sack Capital Partners has sold Cascadia at Fairwood Landing, a 195-unit community in the Fairwood neighborhood of Renton, to Bridge Partners for $47.5 million. Institutional Property Advisors (IPA) represented the seller and procured the buyer. Built in 1981 and renovated in 2025, Cascadia at Fairwood Landing is a two- and three-story garden-style property with 15 residential buildings, a seasonal outdoor pool, fitness center, and a new outdoor pagoda with barbecue stations and seating. The unit mix of one-, two- and four-bedroom apartments averages 795 square feet. Every …

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Sumner-Mill-Sumner
FinanceNewsWashingtonWestern

Mesa West Capital Originates $52M ReFi for Sumner Mill in Metro Seattle

by Lynn Peisner

SUMNER, WASH. — Mesa West Capital has provided Timberlane Partners with a $52 million short-term, first-mortgage loan to refinance Sumner Mill Apartments, a 162-unit community in Sumner, about 40 miles south of Seattle. Timberlane developed Sumner Mill, opening the property in 2024. It is situated on approximately 4 acres and is comprised of studios, one- and two-bedroom units along with a pool, fitness center, clubhouse with a kitchen, conference room, package room, dog park, picnic area, electric vehicle chargers and rooftop solar panels. The financing was arranged by Jake Roberts …

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Portola-Bridge-Creek-Vancouver
FinanceNewsWashingtonWestern

JLL Arranges $42M Refinancing for Portola Bridge Creek in Vancouver, Washington

by Lynn Peisner

VANCOUVER, WASH. — JLL has arranged a $42 million Fannie Mae refinancing loan for Portola Bridge Creek, a 270-unit, garden-style community in Vancouver. The borrower was Irvine, California-based SB Real Estate Partners, which has owned the property since 2022. Built in 1989, Portola Bridge Creek offers one-, two- and three-bedroom floor plans along with a pool with poolside grills, playground, dog parks, an automated Amazon package locker and a 24-hour fitness center. Charles Halladay, Rick Salinas and Elijah Lax led JLL’s team.

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Monticello-Seattle
Investment SalesNewsWashingtonWestern

Nordic Real Estate Buys Monticello in Seattle’s First Hill

by Lynn Peisner

SEATTLE — Nordic Real Estate has acquired Monticello, a 107-unit community at 415 Boren Ave. in Seattle’s First Hill neighborhood. Dylan Simon, Jerrid Anderson and JD Fuller of Kidder Mathews represented the undisclosed seller and sourced the buyer. Nordic Real Estate specializes in buying and renovating older properties in the Seattle region. Monticello was built in 1957 and is comprised of 42,342 rentable square feet.

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Grove-at-Cheney
AlabamaInvestment SalesNewsSoutheastStudent HousingWashingtonWestern

JV Secures $38.4M to Acquire Three Former Student Housing Properties

by Lynn Peisner

NEW YORK CITY — Eastman Residential and Triangle Capital Group have acquired a three-property portfolio of former student housing communities that will be converted to conventional multifamily assets. JLL arranged a $39.4 million three-year, floating rate acquisition loan. The portfolio consists of Grove at Cheney (192 units) in Cheney, Washington, Arch at Troy (192 units) in Troy, Alabama, and CB at Radford (222 units) in Radford, Virginia. Each property was originally developed as off-campus student housing but has underperformed because of distance from their respective university campuses relative to competing …

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Acappella-Lynnwood
Investment SalesNewsWashingtonWestern

Weidner Sells Puget Sound Asset for $112M

by Lynn Peisner

LYNNWOOD, WASH. — Weidner Apartment Homes has sold A’Cappella Apartment Homes in Lynnwood for $112 million. The Puget Sound Business Journal identifies Pacific Urban Investors as the buyer. Kyle Yamamoto, Eli Hanacek and Natalie Kasper of CBRE’s Pacific Northwest multifamily team represented Weidner. Built in 1989, A’Cappella is located at 15001 35th St. and was 95 percent occupied at the time the deal closed. Lynnwood sits at the northern terminus of Sound Transit’s Link light rail, which opened in August 2024 and connects residents to Seattle.

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CRU-Redmond
Investment SalesNewsWashingtonWestern

Goodman Real Estate Sells Two Metro Seattle Assets for $172M

by Lynn Peisner

SEATTLE — Goodman Real Estate has sold two metro Seattle properties for a combined total of $172 million. CBRE’s Eli Hanacek, Kyle Yamamoto and Natalie Kasper represented the Seattle-based seller in both transactions. Each property was developed in 2024 and sold to undisclosed buyers. CRU at Willows 124 in Redmond traded for $94 million. The 195-unit, six-story building sits on 1.6 acres within a master-planned community adjacent to Willows Run Golf Club. It includes 22,998 square feet of fully leased commercial space across three suites. The property features a mix …

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The-Q-Seattle
Investment SalesNewsWashingtonWestern

Kite Partners Buys The Q in Seattle for $24.1M

by Lynn Peisner

SEATTLE — CBRE has arranged the sale of The Q, an 87-unit community at 1321 Queen Anne Ave. N. in Seattle’s Queen Anne neighborhood. Kite Partners bought the asset from Acme Realty for $24.1 million. CBRE’s Mark Zoffel, Peter Wright, Reed Hunter and Spencer Clark represented Acme in the transaction. James Bach and Nick DaValle of CBRE’s debt and structured finance team arranged the loan assumption. The Q features studio, one and two-bedroom units and includes a rooftop deck, a fitness center and pet amenities. The building is about 1 …

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Elara-at-The-Market-Seattle
Affordable HousingInvestment SalesNewsWashingtonWestern

Seattle Housing Agency Buys its First Property for $60.9M

by Lynn Peisner

SEATTLE — The Seattle Social Housing Developer (SSHD) has acquired its first multifamily property since city voters approved the creation of the independent public development authority in 2023. Spartanburg, South Carolina-based Johnson Development Associates sold Elara at the Market to SSHD for $60.9 million. Kidder Mathews arranged the sale. The 150-unit property, which Johnson Development Associates built in 2017, is half a mile northwest of Pike Place Market. In 2023, Seattle city residents voted on Initiative 135, a local citizen-led ballot measure that officially chartered SSHD. In 2025, city voters …

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