Berkadia Completes $49 Million Sale of Multifamily Property in Washington
SEATTLE – August 25, 2022 – Berkadia announced today the sale of Shoreline Village, a 216-unit multifamily property located in Richland, Washington. Senior Managing Director Kenny Dudunakis, Managing Directors David Sorensen and Ben Johnson and Director George Pallis of Berkadia Seattle investment sales completed the $49 million sale on behalf of the buyer, Washington-based 11 Capital. The seller, also based in Washington, was Yuksel, Inc., and the deal closed on August 22.
“Shoreline Village is the ideal value-add opportunity for the buyer and will flourish as the Tri-Cities continue to expand,” said Pallis. “We are thrilled to have assisted in such a monumental transaction in the Richland submarket and believe this is a great result for both buyer and seller moving forward.”
Located at 2555 Duportail St., Shoreline Village features one-, two- and there-bedroom floor plans with in-unit washers and dryers, walk-in closets and private balconies. Community amenities include a swimming pool, a fitness center, a clubhouse and a playground. The property affords residents convenient access to Chamna Natural Preserve, Kadlec Regional Medical Center and the shops and restaurants near Route 240 and Interstate 182.