SEATTLE – October 28, 2021 – Berkadia today announced the sale of Midtown 64, a 365-unit garden-style multifamily property in Kent, Washington. Senior Managing Director Kenny Dudunakis, Senior Directors David Sorensen and Ben Johnson and Associate Director George Pallis of Berkadia Seattle completed the $141.1 million sale on behalf of the seller, Washington-based Goodman Real Estate, and the buyer, Security Properties, Inc., also based in Washington. The deal closed on October 20.
“The Midtown 64 sale is a testament to the significant demographic shifts occurring in Kent and throughout South King County,” said Sorensen. “Many renters are gravitating toward high-quality suburban properties with amenities that, historically, they had seen only in downtown areas. Goodman Real Estate had great foresight in building a project that would capitalize on this renter demand and Security Properties should do very well with this investment as those trends continue. We are very excited for both parties and we are proud to have played a role in this transaction.”
Located at 24615 64th Ave. S, Midtown 64 features studio, one- and two-bedroom floor plans with in-unit washers and dryers, nine-foot ceilings, walk-in closets and stainless-steel appliances. Community amenities include a swimming pool, a clubhouse, a fitness center, an art studio, a yoga studio, a game lounge, a rooftop deck, a dog park and a playground. The property affords residents convenient access to Riverfront Park, Route 516 and the shops and restaurants along West Meeker Street.