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Trellis in Federal Way, Washington
FinanceInvestment SalesNewsWashingtonWestern

Institutional Property Advisors Brokers $32.4 Sale of Trellis in Federal Way, Washington

by Channing Hamilton

FEDERAL WAY, WASH. — Institutional Property Advisors (IPA) has arranged the sale and financing of Trellis, a 111-unit property in Federal Way. An investment fund sponsored by Prime Residential acquired the asset from CEP Multifamily for $32.4 million. Trellis was built in 1985 on 8.6 acres. The community offers 33 one- and two-story duplexes and fourplexes. Units come in two- and three-bedroom floor plans with an average size of 1,000 square feet. IPA’s Ryan Harmon, Giovanni Napoli, Philip Assouad, and Nicholas Ruggiero represented the seller and procured the buyer. Brian Eisendrath, …

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Company NewsNewsPeople NewsWashingtonWestern

Conversion Logix Hires CJ Edmonds as Chief Revenue Officer

by Channing Hamilton

BOTHELL, WASH. — Conversion Logix, an Bothell-based digital marketing company focused on multifamily, senior living and student housing, has hired CJ Edmonds to the role of chief revenue officer. Edmonds brings more than 25 years of experience in software-as-a-service company management and more than thirteen years of experience in real estate marketing and technology services to the company. 

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Investment SalesNewsWashingtonWestern

Institutional Property Advisors Brokers $28.3 Million Sale of Augusta Glen in Seattle Suburb

by Channing Hamilton

LYNNWOOD, WASH. — Institutional Property Advisors has arranged the sale of Augusta Glen, a 121-unit community in the Seattle suburb of Lynwood. Interstate Equities Corp. acquired the asset from APIC Inc. for $28.3 million. Augusta Glen was built in 1991 on 6.8 acres. The community offers one-, two- and three-bedroom units averaging 925 square feet in size. Amenities include a fitness center and a seasonal outdoor pool.

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Radiate Apartments in Redmond, Washington
Investment SalesNewsWashingtonWestern

JLL Brokers $125 Million Sale of Radiate Apartments in Redmond, Washington

by Channing Hamilton

REDMOND, WASH. — JLL Capital Markets has arranged the sale of Radiate Apartments, a 360-unit luxury community in the eastern Seattle suburb of Redmond. Jackson Square Properties acquired the asset from Fairfield Residential for $125 million. David Young, Corey Marx, Ira Virden, Chris Ross, Jordan Louie, Michael Lyford and Reed Curtis led the JLL investment sales and advisory team that represented the seller and procured the buyer. Radiate Apartments was built in 2021. The community offers 360 apartments in studio, one- and two-bedroom floor plans. Units feature full-size washers and dryers, …

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Regal Ridge in Spokane, Washington
Investment SalesNewsWashingtonWestern

CEP Multifamily Acquires Regal Ridge in Spokane, Washington for $21.5 Million

by Channing Hamilton

SPOKANE, WASH. — CEP Multifamily purchased Regal Ridge, a 97-unit asset in Spokane’s South Hill neighborhood, from Cooper Street Capital for $21.5 million. Ryan Harmon, Nicholas Ruggiero, Philip Assouad and Giovanni Napoli of Institutional Property Advisors represented the seller and procured the buyer. Regal Ridge was built in 1994 on 4.5 acres. The community offers two- and three-bedroom apartments with features such as washers and dryers, hardwood floors, and private patios or balconies. Amenities include a pool, playground and package room.

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Regal Ridge in Spokane, Wash.
Investment SalesNewsWashingtonWestern

CEP Multifamily Acquires Regal Ridge in Spokane, Washington for $21.5 Million

by Channing Hamilton

SPOKANE, WASH. — CEP Multifamily has acquired Regal Ridge, a 97-unit, garden-style community in Spokane’s South Hill neighborhood. Ryan Harmon, Nicholas Ruggeiro, Giovanni Napoli and Philip Assouad of Institutional Property Advisors brokered the deal. The property traded for $21.5 million. According to Apartments.com, Regal Ridge was built in 1997 and offers two- or three-bedroom units. Amenities include a pool, clubhouse, playground, and recycling services.

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FinanceNewsPeople NewsWashingtonWestern

Seth Heikkila Rejoins JLL Capital Markets as Senior Director

by Channing Hamilton

SEATTLE — Seth Heikkila has rejoined JLL Capital Markets’ multifamily team as a Senior Director in the Seattle office. In this role, Heikkila will focus on multifamily debt advisory. Heikkila previously worked at JLL from 2010 to 2019, where he served as Vice President of multifamily investment sales and Senior Vice President of Capital Markets. Most recently, he served as a first Vice President of Capital Markets at Institutional Property Advisors.

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Artesia in Everett, Washington
Investment SalesNewsWashingtonWestern

RISE Properties Trust Sells Artesia in Suburban Seattle for $61.6 Million

by Channing Hamilton

EVERETT, WASH. — MG Properties has purchased Artesia, a 192-unit apartment property in the Seattle suburb of Everett, from RISE Properties for $61.6 million. Giovanni Napoli Philip Assouad, Ryan Harmon, Nicholas Ruggiero and Anthony Palladino of Institutional Property Advisors (IPA) represented the seller and procured the buyer. IPA Capital Markets team Brian Eisendrath, Cameron Chalfant, Jake Vitta and Tyler Johnson arranged the acquisition financing. Built in 1990 and updated between 2018 and 2022, Artesia’s units feature quartz countertops, stainless steel appliances, tile fireplace surrounds and reclaimed wood mantles.

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Sierra Sun Apartments in Puyallup, Washington.
Investment SalesNewsWashingtonWestern

Equus Capital Partners Acquires 150-Unit Sierra Sun Apartments Near Seattle

by Channing Hamilton

PUYALLUP, WASH. — Equus Capital Partners (Equus) has acquired Sierra Sun Apartments, a 150-unit property in the Seattle suburb of Puyallup. Built in 2006, Sierra Sun comprises 20 apartment buildings and an 8,500 square-foot clubhouse and amenity center. The community offers one-, two- and three-bedroom townhome-style units. Each unit includes an attached two car garage. Equus will conduct $2 million in renovations to the asset, including interior and exterior updates, as well as enhancements to the clubhouse and amenity center. Madison Apartment Group, a subsidiary of Equus, will oversee the …

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Caesars Luxury Apartments exterior
Investment SalesNewsWashingtonWestern

Barcelo Homes Sells Newly Completed Tacoma Asset for $35.4 Million

by Lynn Peisner

TACOMA, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Caesars Luxury Apartments in Tacoma. The 131-unit asset sold for $35.4 million. The seller, Barcelo Homes, completed development of the project earlier this year. IPA’s Nick Ruggiero, Philip Assouad, Giovani Napoli, Ryan Harmon and Anthony Palladino represented the seller. Kathryn Dobler of Tacoma-based Dobler Management represented the buyer, RGPD LLC. The property offers a mix of studios, “urban” one-bedrooms, traditional one-bedrooms and two-bedroom units. An urban one-bedroom is a unit type that …

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