REDMOND, WASH. — JLL Capital Markets has arranged the sale of Radiate Apartments, a 360-unit luxury community in Redmond, an eastern suburb of Seattle. Jackson Square Properties acquired the asset from Fairfield Residential for $125 million.
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, stainless steel appliances, quartz countertops and wood-style plank flooring.
Amenities include an outdoor terrace, barbecue area, complimentary coffee bar, resident social lounge, game room, demonstration kitchen, fitness center and co-working lounge. According to Apartments.com, the complex rises six stories and is served by an elevator.
Located at 15808 Bear Creek Pkwy. in Redmond’s downtown area, Radiate Apartments is less than half a mile from Redmond Town Center, an outdoor shopping center with more than 120 retail stores, 20 restaurants, three hotels and entertainment venue space. According to JLL, there is approximately 1.9 million square feet of retail, restaurant and entertainment space within a half-mile radius of the community.
Additionally, Radiate Apartments is about 15 miles from downtown Seattle and eight miles from downtown Bellevue. The property offers access to the Redmond Central Connector trail, which will connect to the upcoming Downton Redmond Light Rail Extension. The complex is located in proximity to the current Redmond Transit Center and SR-520.
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.
— Channing Hamilton