SEATTLE – May 17, 2018 – Berkadia today announced the $20.85 million sale of Align Apartments, a multifamily garden-style property in Federal Way, Washington. Directors David Sorensen and Ben Johnson and Senior Managing Director Kenny Dudunakis of Berkadia’s Seattle office completed the sale on behalf of the seller, California-based Madison Residential. The buyer was Redhill Realty Investors, also based in California, and the deal closed on April 26.
“The greater Seattle MSA continues to be an attractive market for multifamily investors across the country,” said Johnson.
Located at 35434 25th Ave. SW, the 105-unit property offers two- and three-bedroom units with fireplaces, personal balconies or decks and in-unit washer and dryers. Community amenities include a fitness center, a clubhouse, a playground and a pool. Residents are located just minutes from downtown Tacoma and the Puget Sound, and the property affords convenient access to Interstate Route 5.