REDMOND, WASH. — JLL has arranged the $286 million sale of Parkside Apartments, a 664-unit apartment community in Redmond, a northeastern suburb of Seattle and home market of Microsoft.
The seller was a partnership between a Texas-based group of investors, previously associated with Dallas-based Lincoln Property Co. Residential and Daiwa House Texas. The buyer was Lakevision Capital, a Silicon Valley-based multifamily investment firm that was founded in 2018.
David Young, Corey Marx and Chris Ross of JLL represented the seller and procured the buyer in the transaction. Puget Sound Business Journal reports that the sale is the largest multifamily transaction in 2024 for Washington’s Puget Sound region.
Buil in 2021 on 4.5 acres within the Esterra Park master-planned community, Parkside Apartments consists of four five- to eight-story buildings that house studio, one- and two-bedroom units.
Residences feature quartz countertops, stainless steel appliances, private balconies, walk-in closets and individual washers and dryers. Amenities include multiple rooftop decks and fitness centers, as well as a pet wash station, entertainment suite and a game lounge.
“Parkside Apartments exemplifies the vibrant, well-connected living experience that is highly sought after in this thriving tech region,” said Jason Byrne, who is managing member for the investment.
— Taylor Williams