Washington

Sienna-Sienna-Park-Tacoma-WA

TACOMA, WASH. — Goodman Real Estate has completed the sale of Sienna and Sienna Park, two multifamily properties in Tacoma, to Interstate Equities Corp. for $43 million, or $173,387 per unit. Located adjacent to one another, the properties offer a total of 248 units. Built in 1986, Sienna offers 80 two- and three-bedroom apartments spread across eight residential buildings. Constructed in 1988, Sienna Park offers 168 one-, two- and three-bedroom apartments across 17 buildings. The communities share an onsite leasing office and resident clubhouse, an outdoor pool, fitness center and standalone cabana. Giovanni Napoli, Philip Assouad, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.

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Admiral-Junction-Seattle-WA

SEATTLE — JLL Capital Markets has arranged the sale of Admiral Junction, a grocery-anchored retail center in Seattle’s Admiral submarket. Silver Star Ventures acquired the asset for $35.4 million. Located at 2620 California Ave. SW, the 67,992-square-foot property features a 60,876-square-foot Safeway and a 7,116-square-foot retail building. At the time of sale, the property was fully leased with Safeway comprising 82 percent of the asset. Daniel Tyner, Geoff Tranchina, Gleb Lvovich and Zach Koucos of JLL represented the buyer in the transaction. The name of the seller was not released.

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8911-Vernon-Rd-Lake-Stevens-WA

LAKE STEVENS, WASH. — Colorado-based Spartan Investment Group has acquired a self-storage facility in Lake Stevens for an undisclosed price. Located at 8911 Vernon Road, the property features 161 units of climate-controlled storage and 242 units of non-climate-controlled storage. Spartan will invest $225,000 in upgrades and expanded amenities to improve curb appeal and modernize security. The self-storage facility was originally constructed in 1999.

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BELLEVUE, WASH. — Shorenstein Investment Advisers has completed the sales of three office buildings in Bellevue’s The Spring District in two separate transactions. Funds affiliated with Blackstone Real Estate acquired a joint-control interest in Blocks 5 and 6 from Shorenstein, while Drawbridge Realty, a KKR partner, purchased Block 13 from Shorenstein and Wright Runstad & Co. The properties were each developed as build-to-suit office buildings for Meta. Terms of the transactions were not disclosed. Blocks 5 and 6 consist of two, 11-story buildings that total 670,000 square feet. While both buildings are leased long-term to Meta, the entirety of Block 6 was recently subleased to Snowflake, which moved into the building in May. Block 13 is a nine-story, 200,000-square-foot property.

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Ansley-Murrayhill-Tigard-OR

TIGARD, ORE., AND BELLEVUE, WASH. — Palo Alto, Calif.-based Pacific Urban Investors has purchased two apartment communities in Oregon and Washington. Terms of the transactions were not released. The company acquired Meadow Creek, a 304-unit multifamily in Tigard, that has been renamed Ansley Murrayhill. Built in 1985, the two-story, garden-style property features 608 parking spaces, a clubhouse, fitness center, game room, swimming pool, spa, racquetball court and a dog park. Pacific Urban Investors also purchased Edgewood Park, a 195-unit property in Bellevue, that has been renamed Alder Bellevue. The low-density, garden-style community offers 372 parking spaces, two swimming pools, a fitness center and ample green space.

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9501-244th-St-SW-Edmonds-WA

EDMONDS, WASH. — Waterton has purchased Brackett Apartments, a garden-style multifamily property in Edmonds, a suburb nearly 20 miles north of Seattle, from Intercontinental Real Estate Corp. and TruAmerica Multifamily for an undisclosed price. Located at 9501 244th St. SW, Brackett Apartments offers 386 units spread across 23 three-story residential buildings and two clubhouses across 22 acres. The acquisition brings Waterton’s holdings in the Seattle area to 1,331 units. Waterton plans to implement a value-add renovation program at Brackett Apartments, which was originally built in 1987. The program will add stainless steel appliances, new cabinet fronts and hardware, quartz countertops and new backsplashes, vinyl plank flooring and carpet, as well as new fixtures, hardware, blinds and refreshed paints. The one-, two- and three-bedroom apartments already include in-unit washers/dryers and wood-burning fireplaces. The pet-friendly community features an outdoor pool and open-air hot tub, grilling stations, a fitness center, dog park, miniature golf course and wellness studio. Waterton plans to improve exterior aesthetics and landscaping, as well as reposition common area amenities. Eli Hanacek, Kyle Yamamoto, Mark Washington and Natalie Kasper of CBRE represented the sellers in the deal.

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The-Danforth-Apts-Seattle-WA

SEATTLE — A partnership between Kennedy Wilson, Kenedix Inc. and Hulic Co. has purchased The Danforth in Seattle for $173 million. Kennedy Wilson has a 10 percent interest, investing $6.6 million of equity in the core plus joint venture, and will serve as asset manager for the partnership and earn customary fees. Built in 2018, the 16-story tower features 265 one-, two- and three-bedroom layouts, a Studio Fit fitness center, rooftop solarium, dog run, a resident lounge with shuffleboard and media center, a full demonstration kitchen and barbecue patio with multiple grills. Additionally, Whole Foods Market occupies the ground-floor retail space.

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2714-Fairview-Ave-E-Seattle-WA

SEATTLE — The Simon | Anderson Multifamily Team at Kidder Mathews has arranged the the off-market sale of Anchor House Apartments, a waterfront property located at 2714 Fairview Ave. E in Seattle’s Eastlake neighborhood. Casal Real Property LLC sold the asset to Anchor House Apartments LLC for $6.7 million. Situated along Lake Union, Anchor House Apartments offers 18 units. Dylan Simon, Jerrid Anderson, Matt Laird and Jack Shephard of Kidder Mathews represented the seller in the deal.

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WOODINVILLE, WASH. — Marcus & Millichap has arranged the sale of The Junction, an industrial facility in Woodinville. A limited liability company sold the asset to an undisclosed buyer for $10.5 million. Located at 19151 144th Ave. NE, the 31,000-square-foot The Junction is 93 percent leased to a variety of tenants, including fast food, auto care and tasting rooms. John Marks and RJ Vara of Marcus & Millichap’s Seattle office represented the seller in the deal.

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Foster-Creek-Apts-Tukwila-WA

TUKWILA, WASH. — Investors Management Group (IMG) has completed the disposition of Foster Creek Apartments, a multifamily property in Tukwila. Terms of the transaction were not released. Located at 15110 Macadam Road South, Foster Creek Apartments features 179 units. IMG directed a $3.7 million capital improvement program, including remodeling the leasing office, adding a fitness center, resurfacing the parking areas, new roofs and remodeling unit interiors. The property was originally built in phases between 1968 and 1978. Ben Johnson and David Sorensen of Berkadia Seattle represented IMG in the transaction.

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