Washington

MMCC Arranges $28.1M in Financing for Sunset Terrace Apartment Community in Renton, Washington

by Amy Works September 19, 2025

RENTON, WASH. — Marcus & Millichap Capital Corp. (MMCC) has arranged $28.1 million in financing for Sunset Terrace, a multifamily property located at 2715 Sunset Lane NE in Renton. Tammy Linden of MMCC arranged the financing with Lument on behalf of the borrower, ST Renton LLC. The transaction was executed as a HUD 223(f) loan with green certification, providing maximum leverage to retire the interim acquisition bridge loan originally arranged by Linden and MMC at the issuance of the temporary certificate of occupancy in July 2023. Sunset Terrace features 211 studio, one- and two-bedroom apartments, live/work units and two commercial tenant suites, totaling 3,986 rentable square feet. Community amenities include in-unit laundry, a fitness center, business center, clubhouse, rooftop deck with barbecue grills, gated garage parking, bike racks and pet-friendly accommodations.

September 19, 2025

Market Reports Multifamily Washington Western Western Market Reports

Optimism Returns to Seattle’s Multifamily Market

by John Nelson September 17, 2025

— Tim McKay of Cushman & Wakefield — Seattle’s multifamily market has faced challenges over the past few years. Rent growth has been flat as a significant number of new units were delivered in 2023 and 2024. This new supply also led to concessions and even rent declines in some markets. Submarket supply issues and the new statewide rent control legislation have also contributed to market headwinds. However, 2025 has brought signs of recovery, and there’s optimism about the market’s trajectory over the next few years. It feels like Seattle has bounced off the bottom and is starting to climb back up, similar to the recovery seen in 2011 after the Global Financial Crisis. Rebounding Demand The multifamily market has seen a recent uptick in demand, which can be attributed to several factors. A key driver has been the return-to-office mandates from major employers like Amazon and Starbucks. Seattle’s population is also expected to grow again, and the supply of new units hitting the market has drastically declined. These factors are contributing to renewed growth after a four- to five-year stagnation. Stabilizing Rental Rates Owners are starting to put properties under contract again. Land prices haven’t returned to previous levels, …

September 17, 2025

Acquisitions Development Multifamily Washington Western

Alliance Residential Acquires 9.7-Acre Development Site in Lakewood, Washington

by Amy Works September 16, 2025

LAKEWOOD, WASH. — Alliance Residential has purchased a 9.7-acre development site within Lakewood Towne Center, a retail destination in Lakewood. The site is slated for the development of a 285-unit Class A apartment community that will include units under the City of Lakewood’s Multifamily Tax Exemption program. The new multifamily property will help address the growing housing demand in Lakewood, where only one new 100-plus market-rate apartment development has been delivered since 2011. Ross Klinger and Austin Kelley of Kidder Mathews represented the undisclosed seller in the deal. Terms of the transaction were not disclosed.

September 16, 2025

Acquisitions Arizona Multifamily Washington Western

TruAmerica Acquires Two Multifamily Communities in Seattle, Phoenix Metro Areas

by Amy Works September 9, 2025

LAKE SAMMAMISH, WASH., AND CHANDLER, ARIZ. — TruAmerica Multifamily has acquired two apartment properties in Lake Sammamish and Chandler, adding 423 units to its Pacific Northwest and Southwest portfolios. Located in Lake Sammamish, Archstone Redmond Lakeview offers 166 garden-style apartments and 45 income-generating boat slips. TruAmerica plans to rebrand and renovate the community, which was built in 1987, as The Docks at Redmond Lakeview. Eli Hanacek, Kyle Yamamoto and Mark Washington of CBRE facilitated the transaction. Situated in Chandler, Park Tower Apartments & Townhomes features 180 garden-style apartments built in 1986 and 77 condominium-quality townhomes built in 2017. TruAmerica will combine the two properties and rebrand the community as Parkland Commons. Chris Canter, Brad Goff and Brett Polachek of Newmark, along with Dan Cheyne of Berkadia, arranged the off-market transaction. Mitch Clarfield, Meghan Varga and Garrett Swanky of Newmark facilitated financing for the deal.

September 9, 2025

Acquisitions Retail Washington Western

Curbline Properties, Agree Realty Buy 125,204 SF Lacey Marketplace in Washington

by Amy Works September 9, 2025

LACEY, WASH. — Curbline Properties and Agree Realty have separately acquired portions of Lacey Marketplace, a 125,204-square-foot power shopping center in Lacey. Dino Christophilis and Daniel Tibeau of CBRE represented the undisclosed seller in the deals. Curbline Properties purchased the 31,885-square-foot retail component located at 1350 Marvin Road NE. Current tenants of the fully occupied property include Panera Bread, Mattress Firm, BECU, Verizon, Cutter’s Point Coffee and Panda Express. Agree Realty acquired the 93,319-square-foot big box component located at 1200 Marvin Road NE for $21 million. Boot Barn, La-Z-Boy, Petco, Ross Dress for Less and Ulta Beauty are tenants at the fully occupied component.

September 9, 2025

Acquisitions Multifamily Washington Western

Kidder Mathews Negotiates Sale of Four-Property Multifamily Portfolio in Metro Seattle

by Amy Works September 8, 2025

KENT, SEATTLE AND SHORELINE, WASH. — The Simon | Anderson Multifamily team at Kidder Mathews has completed the sale of a four-property apartment portfolio in the Seattle area. John Stephanus sold the four-property portfolio and used the proceeds to acquire The Postmark, a 243-unit multifamily community in Shoreline. The purchase was executed through a series of transactions that were previously announced in August. The portfolio includes the 108-unit Swiss Gables Apartments in Kent, the 67-unit Charbern Apartments in Seattle’s Capitol Hill, the 76-unit Stockbridge Apartments in Seattle’s First Hill and the 72-unit Carolina Court Apartments in Seattle’s South Lake Union. Delivered in 2020, The Postmark offers 243 studio, one-, two- and three-bedroom units with high-end finishes and modern layouts. Amenities include a fitness center, yoga studio, resident lounge, rooftop deck, package lockers, bike storage and secure parking. Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of the Simon | Anderson Multifamily team at Kidder Mathews represented John Stephanus in the transactions.

September 8, 2025

Loans Retail Washington Western

Gantry Secures $27.8M Refinancing for Hazel Dell Marketplace in Vancouver, Washington

by Amy Works September 2, 2025

VANCOUVER, WASH. — Gantry has secured a $27.8 million permanent loan to refinance maturing debt for Hazel Dell Marketplace, a grocery-anchored retail center in Vancouver. Situated on 28 acres at 408-512 NE 81st St., Hazel Dell offers 227,680 rentable square feet spread across 11 buildings. Current tenants include Safeway, Ross, Marshalls and Parkrose Hardware. Blake Hering and Abi Hunter of Gantry represented the borrower, a family office owner and developer partnership between two family office groups, in the financing. The fixed-rate, 10-year loan was secured from one of Gantry’s exclusive correspondent life company lenders and features an introductory interest-only period and a 30-year amortization schedule. Gantry will service the loan.

September 2, 2025

Acquisitions Multifamily Washington Western

Kidder Mathews Negotiates Sale of 108-Unit Swiss Gables Apartments in Kent, Washington

by Amy Works August 29, 2025

KENT, WASH. — Kidder Mathews has arranged the sale of Swiss Gables Apartments, a multifamily property in Kent’s Lake Fenwick neighborhood. A private investor acquired the asset from John Stephanus for an undisclosed price. Dylan Simon, Jerrid Anderson, JD Fuller and Elijah Piper of the Simon | Anderson Multifamily team at Kidder Mathews represented the seller and sourced the buyer in the deal. Built in 1969, Swiss Gables offers 108 apartments averaging 870 square feet with in-unit laundry spread across seven buildings on 5 acres.

August 29, 2025

Acquisitions Multifamily Washington Western

Kidder Mathews Brokers $19M Sale of Cornelius Apartments in Seattle

by Amy Works August 20, 2025

SEATTLE — The Simon | Anderson Multifamily Team at Kidder Mathews has arranged the $19 million sale of Cornelius Apartments, located at 306 Blanchard St. in Seattle’s Belltown neighborhood. Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of Simon | Anderson Multifamily represented the undisclosed seller in the deal. The name of the buyer was not released. Built in 1925 as a hotel, the nine-story building features 137 apartments, averaging 455 square feet.

August 20, 2025

Industrial Loans Washington Western

Gantry Secures $17.1M Refinancing for FedEx-Occupied Warehouse in Everett, Washington

by Amy Works August 20, 2025

EVERETT, WASH. — Gantry has secured a $17.1 million permanent loan to refinance a maturing construction-to-permanent loan for a warehouse property located at 7301 Hardeson Road in Everett. FedEx fully occupies the 123,000-square-foot facility as a regional shipping center. FedEx took occupancy of the property, after construction in 2019, on a long-term lease. Tony Kaufmann and Joe Foley of Gantry secured the loan on behalf of the borrower, a private real estate investor. The 10-year, fixed-rate loan was secured from one of Gantry’s correspondent life company lenders with a partial interest-only period followed by 30-year amortization. Gantry will service the loan.

August 20, 2025

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