Washington

Gantry Arranges $11M Refinancing for Grandview Place Apartments in Camas, Washington

by Amy Works March 28, 2025

CAMAS, WASH. — Gantry has secured an $11 million permanent loan to refinance maturing debt for Grandview Place Apartments in Camas, a suburb of Vancouver, Wash. Situated on 6.5 acres at 19420 SE 20th St., Grandview Place Apartments offers 154 one-, two- and three-bedroom floor plans spread across 21 buildings. Community amenities include a resort-style pool and clubhouse, fitness club facilities, executive business center, modern unit interiors and onsite storage units among other amenities. Blake Hering and Abi Hunter of Gantry represented the borrower, a private real estate investor, in arranging the 10-year, fixed-rate loan that was secured through a correspondent life company lender. Gantry will service the loan, which features a 30-year amortization.

March 28, 2025

Acquisitions Industrial Washington Western

Kennedy Wilson Buys 204,458 SF Auburn Park 44 Distribution Facility in Metro Seattle

by Amy Works March 25, 2025

AUBURN, WASH. — Kennedy Wilson has acquired Auburn Park 44, a multi-tenant industrial and distribution building on more than 9 acres in Auburn, a suburb 30 miles south of Seattle. A global investor advisor sold the property for an undisclosed price. Located at 814 44th St., the 204,458-square-foot Auburn Park 44 features 24-foot to 30-foot clear heights, ESFR sprinklers, heavy power, ample dock-high and grade-level loading and abundant auto parking. Jeff Chiate, Matthew Leupold, Bryce Aberg, Rick Ellison and Aubrie Monahan of Cushman & Wakefield’s National Industrial Group – West represented the seller in the deal. Cushman & Wakefield’s Patrick Mullin and CBRE’s Andrew Hitchcock provided local leasing advisory in the transaction. Keith Padien and Max Schafer of Cushman & Wakefield Equity, Debt & Structured Finance arranged acquisition financing for Kennedy Wilson.

March 25, 2025

Acquisitions Multifamily Washington Western

IPA Brokers Sale of 72-Unit Parkview Apartment Community in Olympia, Washington

by Amy Works March 24, 2025

OLYMPIA, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Parkview, a multifamily property within the 137-acre Briggs Village master-planned community in Olympia. Amoroso Cos. sold the asset to Nearon Enterprises for an undisclosed price. Completed in 2012, Parkview offers 72 one-, two- and three-bedroom apartments with nine-foot ceilings, electric fireplaces and private decks or patios. Community amenities include onsite parking, bike storage, a fenced dog run and package lockers. Ryan Harmon, Philip Assouad, Giovanni Napoli, Nick Ruggiero and Anthony Palladino of IPA represented the seller and procured the buyer in the deal.

March 24, 2025

Loans Multifamily Washington Western

Dwight Capital Finances $22.5M HUD-Insured Loan for Skyview Heights Apartments in Airways Heights, Washington

by Amy Works March 21, 2025

AIRWAY HEIGHTS, WASH. — Dwight Capital has closed a $22.5 million HUD 223(f) loan for Skyview Heights, a garden-style apartment community in Airways Heights, a suburb of Spokane. Proceeds of the loan were used to pay off the existing debt, cover closing costs, fund a replacement reserve for future capital improvements and provide a sizable cash out. The refinance also qualified for a reduced Green Mortgage Insurance Premium (MIP) to 25 basis points due to the property’s GreenPoint Rated New Home Silver Level Certification for sustainable design. McBride Capital arranged the transaction. The property features 128 apartments spread across 16 two-story buildings. The unit mix includes 32 one-bedroom units, 80 two-bedroom apartments and 16 three-bedroom units. Each apartment features granite countertops, stainless steel appliances, fireplaces and private balconies or patios. Skyview Heights also offers a single-story clubhouse and lounge, a barbecue area, pool and spa and a fully equipped fitness center.

March 21, 2025

Loans Multifamily Washington Western

Gantry Secures $16.2M in Refinancing for Highlander Apartments in Seattle

by Amy Works March 21, 2025

SEATTLE — Gantry has arranged a $16.2 million permanent loan to retire acquisition financing for the Highlander Apartments in Seattle’s Pinehurst/Northgate neighborhood. The borrower is a private real estate investor, which acquired the asset in 2023 as a vacant assisted living facility and fully renovated the property into market-rate apartments. Located at 11501 15th Ave. NE, the community features 121 studio and one-bedroom apartments. Highlander offers 10,000 square feet of amenity space, including a resident lounge, media room, fitness center and furnished outdoor gathering spaces. Mike Wood, Mike Taylor and Tim Brown of Gantry secured the loan for the borrower. Highlander Apartments is currently fully leased at rents below 80 percent of the area median income, qualifying the loan for a Fannie Mae Sponsor Dedicated Workforce Housing loan.

March 21, 2025

Acquisitions Multifamily Washington Western

Kidder Mathews Negotiates $3.3M Sale of Riverton View Apartments in Tukwila, Washington

by Amy Works March 12, 2025

TUKWILA, WASH. — Kidder Mathews’ Simon | Anderson Multifamily team represented the undisclosed seller in the disposition of Riverton View Apartments in Tukwila. An undisclosed buyer acquired the asset for $3.3 million, or $139,167 per unit. Located at 3455 S. 144th St., Riverton View Apartments offers 24 residences. The value-add property was built in 1963. Dylan Simon and JD Fuller of Kidder Mathews’ Simon | Anderson Multifamily handled the transaction.

March 12, 2025

Acquisitions Multifamily Washington Western

IPA Arranges Sale of 131-Unit Apartment Property in Everett, Washington

by Amy Works March 4, 2025

EVERETT, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Sunrise Lane, a multifamily property in Everett. Weidner Apartment Homes sold the asset to an undisclosed buyer for $35.1 million, or $268,130 per unit. Sunrise Lane offers 131 apartments, a large resident clubhouse, swimming pool, spa and barbecue areas. Units come in one-, two- and three-bedroom layouts averaging 1,020 square feet. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of IPA represented the seller and procured the buyer in the transaction.

March 4, 2025

Acquisitions Arizona Industrial Washington Western

Madison Capital Buys Four REI Co-op Distribution Centers Nationwide for $230M

by Amy Works February 27, 2025

SUMNER, WASH. — New York-based Madison Capital has acquired four REI Co-op distribution centers in Sumner, Wash., Bedford, Penn., Goodyear, Ariz. and Lebanon, Tenn., for $230 million in a sale-leaseback transaction, which also includes the land associated with the properties. REI Co-op will continue to maintain and operate all buildings, as well as own all equipment and machinery inside each facility. The co-op’s network of distribution centers services its more than 190 stores across the country, as well as fulfills customers’ online orders. Heartland LLC, in cooperation with BRK Real Estate Advisors, JLL and Foundry Commercial, represented Sumner-based REI.

February 27, 2025

Acquisitions Multifamily Washington Western

Kidder Mathews Arranges $42.6M Sale of Metro on First Apartments in Seattle

by Amy Works February 21, 2025

SEATTLE — Kidder Mathews has arranged the $42.6 million sale of Metro on First, a multifamily property in Seattle’s Queen Anne neighborhood. Dylan Simon, Jerrid Anderson and JD Fuller of Kidder Mathews’ Simon | Anderson Multifamily team represented the seller, a large institutional owner, and sourced the undisclosed buyer in the deal. Located at 215 First Ave. W., Metro on First offers 106 studio, one- and two-bedroom units. Originally built in 2001, the 72,194-square-foot property has undergone substantial interior renovations in recent years.

February 21, 2025

Hospitality Loans Washington Western

Staypineapple Receives $29.5M in Refinancing for Maxwell Hotel in Seattle

by Amy Works February 18, 2025

SEATTLE — Staypineapple has obtained $29.5 million in refinancing for The Maxwell Hotel, a 139-key boutique hotel in Seattle’s Queen Anne neighborhood. Adrienne Andrews and Jessica Mehra of JLL’s Hotels & Hospitality Group Debt Advisory team secured the 10-year, fixed-rate loan through a regional credit union for the borrower. Opened in 2010, the five-story property features spacious guest rooms with modern amenities, an indoor pool, fitness center and an onsite restaurant and bar, as well as 1,600 square feet of meeting space. The Maxwell Hotel is located at 300 Roy St., near the Seattle Center, Space Needle and Climate Pledge Arena.

February 18, 2025

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