EVERETT, WASH. — MIG Real Estate has acquired BluWater, a multifamily property located at 11311 19th Ave. SE in Everett. BluWater is the fifth Seattle-area multifamily community managed by MIG. Terms of the transaction were not released.
Built in 1991, BluWater features seven three-story buildings offering a total of 152 one-, two- and three-bedroom apartments with eight-foot ceilings. Amenities include a clubhouse, leasing center, indoor/outdoor swimming pool with sauna, fitness center, children’s playground, multiple walking paths and playgrounds.
MIG plans to renovate BluWater including apartment interiors, refreshing the buildings’ exterior paint, expanding the clubhouse and leasing center, and enhancing common area amenities.
Giovanni Napoli and Phillip Assouad of Institutional Property Advisors, a division of Marcus & Millichap, brokered the transaction.