Washington

Great Expectations Receives Construction Financing for 102-Unit Affordable Housing Project Addison in Puyallup, Washington

by Amy Works June 29, 2026

PUYALLUP, WASH. — Great Expectations, a Seattle-based affordable housing developer, has received an undisclosed amount of construction financing for Addison Grove, a 102-unit affordable housing project in Puyallup, 36 miles south of Seattle. According to the Washington State Housing Finance Commission, the project cost is approximately $34.2 million. Great Expectations acquired the site in April, but a construction timeline for the development has not be released. All units will be rent restricted for residents earning between 50 and 80 percent of area median income, guaranteed for 60 years. Addison Grove was financed without tax credits, instead leveraging a subordinate loan from the Washington Family Housing Fund and recycled tax-exempt bonds. The structure preserves affordability by pairing 60-year income restrictions with lower-cost tax-exempt debt and forgivable subordinate capital, reducing the amount of conventional debt the property must support through rent revenue. CBRE and Heritage Bank are permanent lenders.

June 29, 2026

Loans Multifamily Washington Western

Mesa West Capital Funds $82.5M Loan for Refinancing of Apartment Community in Everett, Washington

by Amy Works June 25, 2026

EVERETT, WASH. — Mesa West Capital has funded an $82.5 million first mortgage loan to a joint venture between Harrison Street Asset Management and Security Properties to refinance Olin Fields, a garden-style multifamily property in Everett. Josh Westerberg and JJ McMahon of Mesa West Capital led the transaction for Mesa West. Jesse Weber, Scott Williams and Kevin Coyle of CBRE’s San Francisco office arranged the five-year, nonrecourse financing for the borrower. Built on 16 acres, Olin Fields features 352 one-, two- and three-bedroom apartments spread across 21 residential buildings. Units feature in-unit washers and dryers, stainless steel appliances, digital thermostats, quartz countertops, wood burning fireplaces and private patios in select units. Community amenities include a fitness center, indoor basketball court, indoor and outdoor pools, outdoor lounge with fire pits and barbecue stations, a dog park, playground and 24-hour package lockers. Since acquiring the asset in 2022, the sponsor has invested in exterior improvements and renovations to 76 units. A portion of the loan proceeds will be used to complete the remaining interior upgrades.

June 25, 2026

Acquisitions Multifamily Washington Western

Jackson Square Sells 108-Unit Apartment Complex in Everett, Washington for $24.5M

by Amy Works June 23, 2026

EVERETT, WASH. — Jackson Square Properties has sold Latitude, a 108-unit multifamily property in Everett’s Lake Stickney neighborhood, to Bridge Housing for approximately $25.4 million. Developed in 1986 on 4 acres, the property features one- and two-bedroom apartments spread across six residential buildings and a standalone clubhouse. Community amenities include a courtyard with a barbecue area and firepit, fitness center and a fenced-in dog park. Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the San Francisco-based seller and procured the buyer, also based in San Francisco.

June 23, 2026

Acquisitions Multifamily Seniors Housing Washington Western

JLL Brokers Sale of 182-Unit Seniors Housing Community Near Seattle

by Amy Works June 22, 2026

LYNNWOOD, WASH. — JLL Capital Markets has brokered the sale of Fairwinds Brighton Court, a 182-unit senior living community located in Lynnwood, roughly 16 miles north of Seattle. Residences at the community, which was built in 1988, include independent living and assisted living units in studio, one- and two-bedroom layouts. Amenities at the 4.4-acre property include a full-service restaurant, bistro, fitness center, salon, library, billiards room and courtyard. Leisure Care will continue to manage the community on behalf of the buyer, a publicly traded REIT. Jay Wagner, Rick Swartz, Aaron Rosenweig, Dan Baker and Dean Ferris of JLL represented the undisclosed seller in the transaction.

June 22, 2026

Acquisitions Multifamily Washington Western

Green Light Housing Purchases Affordable Housing Apartments in Vancouver, Washington, for $35.4M

by Amy Works June 17, 2026

VANCOUVER, WASH. — Green Light Housing has purchased Carriage Housing Apartments, a garden-style affordable housing property located at 4714 N.E. 72nd Ave. in Vancouver, from Jackson Square Properties. The sales price was $35.4 million. Joe Nydahl and Josh McDonald of CBRE represented the buyer and the seller in the deal. CBRE Debt & Structured Finance’s Nick Santangelo, Micah Springston and Matt Thorp sourced accretive financing through Fannie Mae’s Multifamily Affordable Housing Program at 75 percent loan-to-value. Built in 1993, Carriage Housing Apartments features 160 one-, two- and three-bedroom apartments. Community amenities include a pool, fitness center, clubhouse and a gated entry.

June 17, 2026

Development Multifamily Seniors Housing Washington Western

PMB, The Springs Living Break Ground on 225-Unit Senior Living Community in Issaquah, Washington

by Amy Works June 12, 2026

ISSAQUAH, WASH. — Co-developers PMB and The Springs Living have broken ground on a 225-unit senior living community in Issaquah, roughly 20 miles southeast of Seattle. Makenzie and GBD Architects designed the project, and Exxel Pacific is serving as the general contractor. Harrison Street Asset Management, Huntington National Bank, BOK, MVB, First National Bank Alaska and Northwest Bank are providing financing. Upon completion, The Springs Living at Issaquah Highlands will span 329,250 square feet. Units will include 114 independent living, 84 assisted living and 27 memory care apartments. The community is scheduled to open in late 2028. This marks the second co-development between The Springs Living and PMB.

June 12, 2026

Acquisitions California Georgia Industrial Southeast Texas Top Stories Washington Western

BKM, Kayne Anderson Acquire 8.5 MSF Light Industrial Portfolio for $1.8B

by Kristin Harlow June 3, 2026

NEWPORT BEACH, CALIF. AND BOCA RATON, FLA. — BKM Capital Partners and Kayne Anderson Real Estate have acquired an 8.5 million-square-foot light industrial portfolio from Link Logistics for $1.8 billion. The portfolio includes 51 multi-tenant properties across markets in California, Washington, Texas and Georgia. The deal marks the largest light industrial transaction since 2022, according to the joint venture partners, which now maintain roughly 15 million square feet of multi-tenant light industrial assets under management. The portfolio is approximately 90 percent occupied and consists of nearly 2,000 units across 275 buildings, all located in infill submarkets within high-growth metropolitan areas. “At Kayne Anderson Real Estate, we continue to focus on sectors where we see durable demand drivers and the opportunity to create value through scale, vertical integration and operational expertise,” says Al Rabil, co-founder and CEO of Kayne Anderson Real Estate. “Multi-tenant light industrial remains a highly fragmented segment with compelling fundamentals.” “This acquisition marks the largest addition to BKM’s platform to date and is representative of the strategy we have deployed in the multi-tenant light industrial space for years,” says Brian Malliet, founder, CEO and chief investment officer of BKM. “It not only underscores the importance of deep operating …

June 3, 2026

Industrial Loans Washington Western

Gantry Secures $16M Refinancing for Kirkland Business Center in Washington

by Amy Works May 28, 2026

KIRKLAND, WASH. — Gantry has secured a $16 million permanent loan for the refinancing of Kirkland Business Center, located at 11860 N.E. 112th St. in Kirkland, a suburb east of Seattle. Originally developed in 1962 and 1969, the 104,000-square-foot industrial asset is fully leased to multiple tenants. Mike Wood, Mike Taylor and Tim Brown of Gantry arranged the seven-year, fixed-rate loan, which was provided by one of Gantry’s correspondent insurance companies. The financing features cash-out proceeds with full-term interest-only payments. Gantry will service the loan on behalf of the lender. The name of the borrower was not released.

May 28, 2026

Acquisitions Industrial Self-Storage Washington Western

Commune Capital Sells Self-Storage Property in Bellevue, Washington for $50.7M

by Amy Works May 27, 2026

BELLEVUE, WASH. — Commune Capital has completed the disposition of a self-storage property located at 12399 Northup Way in Bellevue. Premier Storage Investors acquired the asset for $50.7 million. Mike Mele, Luke Elliott, Jim Lewis and Steffan Brown of Cushman & Wakefield represented the seller in the transaction. Built in 2016 on 1.2 acres, the Class A 103,397-square-foot self-storage facility features 988 climate-controlled and drive-up units. At the time of sale, the property was 93 percent occupied.

May 27, 2026

California Development Industrial Loans Oregon Washington Western

IPA Capital Markets Secures $116.5M Construction Loan for Pacific Northwest Industrial Property

by Amy Works May 5, 2026

LOS ANGELES — IPA Capital Markets, a division of Marcus & Millichap, has arranged $116.5 million in financing for the development of a 1.4 million-square-foot industrial property in the Pacific Northwest. Gary Mozer and Lee Norman of IPA secured the financing on behalf of a national real estate development investment firm specializing in the acquisition, development and management of commercial real estate. “The credit nature of the tenant allowed us to secure 95 percent loan-to-cost financing at a five-year, fixed rate of 5.28 percent,” said Mozer. “The loan includes yield maintenance prepayment terms, with the final six months open with no prepayment penalty.”

May 5, 2026

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