Joint Venture Buys 198-Unit Bryson Square Apartments Near Seattle for $43.2M
KENT, WASH. — A joint venture between RISE Properties Trust and Aegon Real Assets US has acquired Bryson Square Apartments, a multifamily property located at 24006 108th Place SE in Kent, for $43.2 million.
Built in 1988, the property features 198 apartments and is situated approximately two miles from Kent Station, an open-air lifestyle destination that features a Sounder commuter train station, 14-screen AMC theater and more than 15 restaurants and 30 retailers and servicers. Seattle-based Thrive Communities will manage the property.
Berkadia brokered the transaction, which is the first joint venture between the companies. Including Bryson Square, RISE owns approximately 2,700 units across 15 multifamily properties in the Pacific Northwest.