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BELLINGHAM, WASH. — HB Management has acquired Barkley Apartment Homes, a multifamily community in the Barkley neighborhood of Bellingham, from CEP Multifamily for $47.9 million, or $237,129 per unit. Ryan Harmon, Giovanni Napoli, Philip Assouad, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors (IPA), a division of Marcus & Millichap, procured the local buyer in the transaction.
Built between 2001 and 2003, the 202-unit property features 17 residential buildings, a central leasing office, clubhouse, fitness center and a seasonal outdoor pool and spa. The one-, two- and three-bedroom floor plans offer washers/dryers, private decks or patios and storage space.