Jacobson Co. Sells CityZen Commons Apartment Property in Kent, Washington for $52M

KENT, WASH. — The Jacobson Co. has completed the sale of CityZen Commons, a multifamily community located at 10925 SE 259th St.in Kent. An undisclosed buyer acquired the property for $52 million.

Built in 1980 on 7.8 acres, the 23-building CityZen Commons features 177 one- and two-bedroom floor plans, with an average size of 810 square feet. Units offer a private patio or balcony and in-unit washers/dryers. Onsite amenities include a fitness center, dog park and swimming pool.

Eli Hanacek, Jon Hallgrimson, Mark Washington and Kyle Yamamoto of CBRE represented The Jacobson Co. in the deal. The Jacobson Co. initially acquired the property for $28.1 million in 2018.