Berkadia Arranges $19.1M Sale of Apartment Property Near Seattle
BURIEN, WASH. — Berkadia has brokered the sale and financing for Arbour Court, a garden-style community located at 2225 S. 112th St. in Burien, a suburb of Seattle. Kuhar Bay Club sold the asset to a private group of local investors for $19.1 million. Kenny Dudunakis, Ben Johnson and David Sorensen of Berkadia’s Seattle office represented the seller in the transaction.
Robert Doxsee and Michael Manolides of Berkardia Seattle’s office, along with Brad Williamson of Berkadia’s Miami office, arranged a $15 million acquisition loan on behalf of the buyer through New York-based Ready Capital.
Built in 1990, Arbour Court features 75 units in a mix of one-, two- and three-bedroom floor plans ranging from 700 square feet to 1,030 square feet. Units offer gourmet kitchens, fireplaces, large walk-in closets and in-unit washers/dryers. Community amenities include an indoor pool, sauna and a fitness center.