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 …
Washington
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 …
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 …
PUYALLUP, WASH. — Great Expectations, a Seattle-based affordable housing developer, has secured financing to build Addison Grove, a 102-unit affordable housing community in Puyallup, 36 miles south of Seattle. Great Expectations acquired the site in April. A construction timeline has not been disclosed. All units will be rent restricted at 50 and 80 percent of area median income, guaranteed for 60 years. According to the Washington State Housing Finance Commission, the project cost is approximately $34.2 million. Addison Grove was financed without tax credits, instead leveraging a subordinate loan from …
EVERETT, WASH. — Jackson Square Properties has sold Latitude, a 108-unit property in Everett’s Lake Stickney neighborhood, to Bridge Housing for approximately $25.4 million. The asset was developed in 1986. Its six residential buildings along with a standalone clubhouse are situated on 4 acres. Amenities include a courtyard with a barbecue area and firepit, fitness center and a fenced-in dog park. The unit mix is comprised of one- and two-bedroom floor plans. IPA’s Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino represented the San Francisco-based seller and …
SEATTLE — CBRE has arranged the $59.3 million sale of Corner 63 Apartments in Seattle’s Roosevelt neighborhood. Eli Hanacek, Kyle Yamamoto and Natalie Kasper of CBRE’s Pacific Northwest multifamily team represented the seller, High Street Residential, the residential subsidiary of Trammell Crow Co., in the transaction. The buyer’s identity was not disclosed. Located at 6300 9th Ave. NE, Corner 63 is a seven-story, mid-rise community completed in 2023. The property offers a mix of studio, one- and two-bedroom units. Amenities include a rooftop terrace, fitness center, coworking lounge, dog run …
Mill Creek Residential Begins Construction of Modera Woodmont Beach in Metro Seattle
DES MOINES, WASH. — Mill Creek Residential has begun construction of Modera Woodmont Beach in Des Moines, 20 miles south of downtown Seattle. Modera Woodmont Beach will include 280 apartments and 7,500 square feet of retail space. Resident move-ins are estimated to begin in summer 2027. The community will be built to National Green Building Standard (NGBS) certification, which awards points for features such as energy and water efficiency and indoor air quality. Units will be comprised of one-, two- and three-bedroom floor plans, and amenities will include a resort-style …
SEATTLE — Locally based Nordic Partners Investments has acquired John Winthrop Apartments, a 79-unit property at 1020 Seneca St. in Seattle’s First Hill neighborhood. Dylan Simon, Jerrid Anderson and JD Fuller of Kidder Mathews’ Simon Anderson Multifamily Team represented the undisclosed seller. Nordic Real Estate specializes in value-add multifamily acquisitions with a focus on vintage properties. The John Winthrop building was constructed in 1925. Two units have been fully renovated. Nordic plans to implement a unit-upgrade program on the remaining homes.
TACOMA, WASH. — Investors Management Group (IMG) has sold Valley Vista Apartments in Tacoma to Seattle-based m5x2 for approximately $15.9 million. California-based IMG acquired Valley Vista in 2016 for $11.4 million. Kidder Mathews represented IMG in the transaction. The 108-unit property was developed in 1986. IMG deployed a $2.5 million value-add plan, upgrading units and amenities, during its hold period. Improvements included a new exercise and community room, an updated community deck, a refreshed leasing office, new signage and the conversion of a playground to a dog park.
High Street Residential, PGIM Begin Construction of Versant Bellevue in Washington State
BELLEVUE, WASH. — High Street Residential (HSR), a subsidiary of Trammell Cros Co., and PGIM have broken ground on Versant Bellevue, a 351-unit property adjacent to the East Main Light Rail Station in Bellevue. The project is slated for completion in the third quarter of 2028. Located at 11040 Main St., the new development will occupy 1.7 acres and will replace an existing two-story office building. The development team closed on the land on March 13. Chad Waldbaum of JSH Properties represented HSR in the transaction. The architect is Weber …