Berkadia Completes $35.75 Million Sale of Multifamily Property in Washington

July 14, 2022

Berkadia Completes $35.75 Million Sale of Multifamily Property in Washington

July 14, 2022
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SEATTLE – July 13, 2022 – Berkadia announced today the sale of Align, a 105-unit multifamily property located in Federal Way, Washington. Managing Directors David Sorensen and Ben Johnson, Senior Managing Director Kenny Dudunakis, and Director George Pallis of Berkadia Seattle completed the $35.75 million sale on behalf of the seller, California-based Redhill Realty Investors, and the buyer, St. Regis Properties LLC, also based in California. The deal closed on June 30.

“Align is a very attractive garden-style asset with a great unit mix consisting of large floorplans that renters continue to seek out,” said Sorensen. “Along with its proximity to Tacoma, Seattle and the Kent Valley industrial corridor, Align has a proven value-add story and should provide the new owners significant upside going forward. We believe this is a great result for both sides and we are excited to have played a role in this transaction.”

Located at 35434 25th Ave. SW, Align features two- and three-bedroom floor plans with in-unit washers and dryers and private patios or balconies. Community amenities include a swimming pool, a fitness center, a clubhouse, a business center and a playground. The property affords residents convenient access to North Shore Golf Course, Wild Waves Theme and Water Park and the shops and restaurants near SW 356th Street.

Seattle-Area Apartment Property Sells for $35.75Mln | CRE Direct