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Stonemeadow Farms in Bothell, Washington
Investment SalesNewsWashingtonWestern

JLL Capital Markets Arranges $93.1 Million Sale of Stonemeadow Farms in Suburban Seattle

by Channing Hamilton

BOTHELL, WASH. — JLL Capital Markets has arranged the sale of Stonemeadow Farms, a 280-unit community located at 23028 27th Ave. SE in Bothell, roughly 20 miles northeast of Seattle. LaSalle Investment Management sold the property for $93.1 million. David Young, Corey Marx and Chris Ross led the JLL Capital Market’s investment and sales advisory team representing the seller. The buyer was not disclosed. Stonemeadow Farms was constructed in 1999. The garden-style community consists of 20 buildings on a 29.1-acre site. Amenities include a fitness center, clubhouse with a kitchen …

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Aldercrest Apartments in Seattle
Investment SalesNewsWashingtonWestern

Northmarq Brokers $13.1 Million Sale of Aldercrest Apartments in Seattle

by Channing Hamilton

SEATTLE — Northmarq has arranged the sale of Aldercrest Apartments, a 47-unit community located at 303 10th Ave. in Seattle’s First Hill district. An entity doing business as 303 10th Ave LLC purchased the property for $13.1 million. Tyler Smith, Steve Fischer, Joe Kinkopf, Brendan Greenheck, Taylor Wymna and Matt Johnson of Northmarq’s Seattle Multifamily Investment Sales team represented the undisclosed seller in the deal. Aldercrest Apartments was built in 1999. The property offers studio, one- and two-bedroom floor plans. Apartments feature nine-foot ceilings, bay windows and in-unit washers and …

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The Village at Union Mills in Lacey, Washington
Investment SalesNewsWashingtonWestern

TMR Investments Purchases 182-Unit The Village at Union Mills in Lacey, Washington

by Channing Hamilton

LACEY, WASH. — TMR Investments has acquired The Village at Union Mills, a 182-unit community located at 8146 Sweetbrier Lane SE in Lacey, roughly five miles east of Olympia, Washington. The seller was not disclosed. The buyer plans to invest $4.1 million to execute a value-add strategy for the property. Planned renovations include updates to the fitness center, clubhouse and outdoor amenity spaces, as well as the addition of electric vehicle charging stations. Each apartment will also receive new stainless steel appliances, stone countertops and contemporary lighting and hardware.

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The Carter on the Park in Redmond, Washington
Investment SalesNewsWashingtonWestern

JLL Capital Markets Brokers $43.5 Million Refinancing of The Carter on the Park Near Seattle

by Channing Hamilton

REDMOND, WASH. — JLL Capital Markets has arranged a $43.5 million refinancing for The Carter on the Park, a 180-unit community in downtown Redmond, 15 miles east of Seattle. JLL worked on behalf of the borrower, Washington Holdings, to secure the loan through PGIM Real Estate. Bruce Ganong and Seth Heikkila led the JLL Capital Markets Debt Advisory team. The Carter on the Park was constructed in 2016 on a 216,220-square-foot site. The complex offers one- and two-bedroom floor plans. Amenities include a fitness center, rooftop deck, tech bar, two-story …

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The Schoolhouse District in Woodinville, Washington
Investment SalesNewsWashingtonWestern

JLL Capital Markets Arranges $77 Million Refinancing for The Schoolhouse District in Seattle Suburb

by Channing Hamilton

WOODINVILLE, WASH. — JLL Capital Markets has arranged a $77 million refinancing for The Schoolhouse District, a 264-unit mixed-use complex in downtown Woodinville, a northern suburb of Seattle. JLL represented the borrowers, MainStreet Property Group and HAL Real Estate, in securing the fixed-rate loan through AXA IM Alts. Seth Heikkila and Steve Petrie led the JLL Capital Market Debt Advisory team. The Schoolhouse District was built in 2021 on a 3.1-acre site. The community offers units in studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, work-from-home spaces, grocery delivery …

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Porch + Park in Redmond, Washington
FinanceNewsWashingtonWestern

MainStreet Property Group Secures $32.6 Million Refinancing for Porch + Park in Redmond, Washington

by Channing Hamilton

REDMOND, WASH. — MainStreet Property Group has obtained a $32.6 million loan for the refinancing of Porch + Park, a 106-unit property located at 16050 Cleveland St. in downtown Redmond, an eastern suburb of Seattle. Seth Heikkila and Steve Petrie of JLL Capital Markets arranged the floating-rate loan through First Citizens Bank. Porch + Park was built in 2022. The community offers studio, one-, two- and three-bedroom floor plans. Amenities include a rooftop deck and a gym with row machines, yoga spaces and a boxing area. The property also includes 9,178 …

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SKY Sammamish in Sammamish, Washington
Investment SalesNewsWashingtonWestern

Security Properties Acquires SKY Sammamish in Metro Seattle for $70.3 Million

by Channing Hamilton

SAMMAMISH, WASH. — Security Properties has acquired SKY Sammamish, a 159-unit asset located in the Seattle suburb of Sammamish, for $70.3 million. According to the property website, SKY Sammamish offers one-, two- and three-bedroom apartment units. Amenities include a lounge, fitness center and sport court featuring basketball and pickleball courts, ping pong tables and a tabletop shuffleboard. The community was built in 2018 as a phase of the Sammamish Town Center, a mixed-use development that will serve as the new town center for the city. SKY Sammamish is currently the only …

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DevelopmentNewsWashingtonWestern

Vista Residential Partners Breaks Ground on 238-Unit One26 Vista in Vancouver, Washington

by Channing Hamilton

VANCOUVER, WASH. — Vista Residential Partners, along with PCCP and Principal Asset Management, has broken ground on One26 Vista, a 238-unit project in Vancouver. LSW Architects designed the asset. Atlanta-based Krevolin & Horst represented Vista Residential Partners in the closing. Situated on nine acres on NE 72nd Avenue, the garden-style community offers one-, two- and three-bedroom floor plans. The average unit size is 920 square feet. Planned amenities include a clubhouse, fitness center, pool, hot tub, enclosed dog park and package concierge.

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DevelopmentNewsWashingtonWestern

American Capital Group, Clarion Partners to Develop 316-Unit Enso Near Seattle

by Channing Hamilton

LYNNWOOD, WASH. — American Capital Group and Clarion Partners have formed a joint venture to develop Enso, a 316-unit community in the Seattle suburb of Lynwood. Pacific Life Insurance Co. served as the construction lender for the project. Located at 4001 198th St. SW, Enso will offer amenities such as a co-working space, fitness facility, game lounge, resident lounge, dog wash and bike storage. The property also features more than 4,200 square feet of retail space. Construction is slated to begin in August 2024. Completion is expected by Summer 2026. 

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Orchard Park in Port Orchard, Washington
Investment SalesNewsWashingtonWestern

Marcus & Millichap Arranges $16 Million Sale of Orchard Park in Port Orchard, Washington

by Channing Hamilton

PORT ORCHARD, WASH. — Marcus & Millichap has arranged the sale of Orchard Park, a 66-unit property in Port Orchard, about 17 miles west of Seattle. The asset traded hands for $16 million. Orchard Park was built in 1981. The community offers units in one-, two- and three-bedroom layouts. The property was 96 occupied at the time of sale. Kellan Moll and Scott Morasch of Marcus & Millichap’s Seattle office marketed the property on behalf of the seller. Moll and Morasch, along with Mitchell Loofburrow, also secured the buyer. Both the buyer and …

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