Washington

The-Danforth-Seattle
Investment SalesNewsWashingtonWestern

Kennedy Wilson JV Acquires Seattle High-Rise for $173 Million

by Lynn Peisner

SEATTLE — Kennedy Wilson has partnered with Japan-based companies Kenedix and Hulic Co. to acquire The Danforth in Seattle for $173 million. A Whole Foods is the sole ground-floor retail tenant in the 265-unit community. Vanbarton Group, which has owned the asset since 2019, was the seller. Beverly Hills, California-based Kennedy Wilson has a 10 percent interest in the deal and invested $6.6 million of equity in the venture. Kennedy Wilson also will serve as asset manager for the partnership, receiving an undisclosed fee for that service. The Danforth is …

Continue Reading
0 FacebookTwitterLinkedinEmail
Foster-Creek-Tukwila
BerkadiaInvestment SalesNewsWashingtonWestern

Berkadia Arranges Seattle Suburb Sale of Foster Creek

by Lynn Peisner

TUKWILA, WASH. — Investors Management Group has sold Foster Creek, a 179-unit property in Tukwila, 12 miles south of Seattle. According to the Puget Sound Business Journal, the sales price was $28.3 million, and the buyer was Spokane Indian Housing Authority. Managing Directors Benjamin Johnson and David Sorensen, Director George Pallis, Associate Director Peter Dudunakis and Senior Managing Director Kenny Dudunakis of Berkadia Seattle led the transaction on behalf of the seller. Senior Managing Director Tim Leonard and Managing Director Chris Crump of Berkadia Dallas secured the acquisition financing on …

Continue Reading
0 FacebookTwitterLinkedinEmail
Madison-Bellevue
FinanceNewsWashingtonWestern

Ezralow Co. Secures $73.5 Million to Refinance Madison Bellevue

by Lynn Peisner

BELLEVUE, WASH.  — Berkadia has arranged a $73.5 million loan on behalf of California-based The Ezralow Co. to refinance The Madison Bellevue, a 281-unit garden-style property in Bellevue. Senior Managing Director Allan Freedman of Berkadia Los Angeles secured the financing through Freddie Mac. The Madison Bellevue features one- and two-bedroom layouts with quartz countertops, kitchen islands, hardwood-style flooring, washers and dryers, stainless steel appliances and private patios. Amenities include a gym, pool and lounge.

Continue Reading
0 FacebookTwitterLinkedinEmail
Vue-Kirkland
Affordable HousingInvestment SalesNewsWashingtonWestern

Berkadia Arranges Sale of Vue Kirkland

by Lynn Peisner

KIRKLAND, WASH. — Acacia Capital has sold Vue Kirkland to BRIDGE Housing for an undisclosed sum. Managing Directors David Sorensen and Benjamin Johnson, Director George Pallis, Associate Director Peter Dudunakis and Senior Managing Director Kenny Dudunakis of Berkadia Seattle led the transaction on behalf of the California-based seller. BRIDGE Housing is planning to convert the 200-unit market-rate community to affordable housing, offering units to tenants earning between 50 and 80 percent of area median income. The property was built in 1977.

Continue Reading
0 FacebookTwitterLinkedinEmail
Urbana in Seattle
Investment SalesNewsWashingtonWestern

Equity Residential Sells Seattle Asset to Carmel Partners

by Lynn Peisner

SEATTLE — Institutional Property Advisors (IPA) has arranged the sale of and financing for Urbana, a 289-unit, seven-story asset with 29,884 square feet of street-level retail in Seattle. IPA’s Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino represented the seller, Equity Residential and procured the buyer, Carmel Partners. The sales price was not disclosed, but local media reported it traded for approximately $121 million. Built in 2014, the LEED Gold-certified Urbana has two rooftop decks, a resident lounge with a theater, a dog run and pet spa, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Gov-Ferguson-Bill-Signing
Affordable HousingNewsWashingtonWestern

Washington State’s Newly Enacted Rent Control Law is Shortsighted, Say Developers

by Lynn Peisner

SEATTLE — Washington Gov. Bob Ferguson has signed House Bill 1217, which limits yearly rent increases for existing tenants in Washington state to 7 percent plus inflation or 10 percent, whichever is lower. Landlords can still adjust rent by higher amounts for new tenants. The bill also limits rent increases for manufactured homes to 5 percent per year. HB 1217, as well as several other bills, were signed on May 7 at the Blake House affordable housing high rise in downtown Seattle. The bill automatically became law upon signing. Other …

Continue Reading
0 FacebookTwitterLinkedinEmail
Soma Towers
Investment SalesNewsWashingtonWestern

Su Development Divests of Soma Towers Near Seattle for $192.8 Million

by Channing Hamilton

BELLEVUE, WASH. — Su Development has completed the sale of Soma Towers, a 273-unit property located at 288 106th Ave. NE in Bellevue. The Sobrato Organization purchased the two-tower community for $192.8 million. Eli Hanacek, Kyle Yamamoto and Mark Washington of CBRE represented the seller in the deal. Soma Tower consists of two towers, which house a mix of studio, one- and two-bedroom apartments and two- and four-bedroom penthouse suites. The property also features 29,964 square feet of commercial space across two floors that is 90 percent leased to restaurants, retail …

Continue Reading
0 FacebookTwitterLinkedinEmail
The 104
FinanceNewsWashingtonWestern

MainStreet Property Group Receives $19 Million in Refinancing for 115-Unit Community in Bothell, Washington

by Channing Hamilton

BOTHELL, WASH. — MainStreet Property Group has secured a $19 million loan for the refinancing of The 104 in Bothell, roughly 20 miles northeast of Seattle. Seth Heikkila and Bill Maloney of JLL Capital Markets Debt Advisory team secured the five-year, fixed-rate loan through Fannie Mae. JLL Real Estate Capital LLC will service the loan. The 104 features 115 apartments in one- and two-bedroom floor plans, averaging 773 square feet. Units feature stainless steel appliances, walk-in closets and exposed concrete details. Amenities include a lounge with kitchen, a community courtyard, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Skye
Investment SalesNewsWashingtonWestern

Institutional Property Advisors Brokers Sale of 18-Story Asset in Seattle

by Channing Hamilton

SEATTLE — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Skye, a 371-unit apartment building with 13,300 square feet of ground-floor retail space in Seattle’s Denny Triangle neighborhood. The 18-story community was originally built in 1949, and all units were renovated between 2014 and 2016. Tenants have access to a controlled-access parking garage, rooftop terrace, fenced dog park, walking trails and green lawns. Apartments come in studio, one-, and two-bedroom floor plans. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino …

Continue Reading
0 FacebookTwitterLinkedinEmail
Kōz on Alderwood Mall Blvd
DevelopmentNewsWashingtonWestern

Kōz Development, MSquared Open 199-Unit Property in Lynnwood, Washington

by Channing Hamilton

LYNNWOOD, WASH. — Kōz Development and MSquared have opened Kōz on Alderwood Mall Blvd, a mixed-income community located at 301 Alderwood Mall Blvd. in Lynnwood, 17 miles south of Seattle. The property offers 199 studio, one-bedroom and two-bedroom floor plans. Half of the units are reserved for households earning up to 80 percent of the area median income, while the other half are leased at market rate. The $54 million project is situated adjacent to the Lynnwood Transit Center, the northern terminus of the Sound Transit Link rail extension connecting …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.