SEATTLE and PHILADELPHIA – September 8, 2021 – Berkadia today announced the sale of and financing secured for Woodland Meadows, a 330-unit garden-style multifamily property in Post Falls, Idaho. Senior Managing Director Kenny Dudunakis, Senior Directors David Sorensen and Ben Johnson and Associate Director George Pallis of Berkadia Seattle completed the sale on behalf of the buyer, a California-based apartment owner. The deal closed on August 5.
Senior Managing Director Robert Falese of Berkadia Philadelphia secured the permanent acquisition financing on behalf of the buyer.
“Woodland Meadows is an attractive, well-designed property that is perfectly positioned to capture the positive momentum we’re seeing in Post Falls and the broader Coeur d’Alene region,” said Sorensen. “Residents will continue to seek out the great lifestyle Post Falls offers, and we have no doubt this asset will have strong performance in the years to come.”
“This asset was a phenomenal acquisition for our client, who is committed to growing their portfolio with quality communities such as Woodland Meadows,” said Falese. “This property provides Post Falls, Idaho with excellent housing and is one of the largest apartment communities serving this market.”
Located at 1124 W 4th Ave., Woodland Meadows features studio, one-, two- and three-bedroom floor plans with in-unit washers and dryers, air conditioning and walk-in closets. Community amenities include a fitness center, a media center, an outdoor patio, a grilling station and a jacuzzi. The property affords convenient access to Interstate 90 and the shops and restaurants along E Seltice Way.