CBRE Arranges $24M Sale of 87-Unit Apartment Property in Seattle
CBRE has arranged a $24.1 million sale of The Q, an 87-unit multifamily community located at 1321 Queen Anne Ave N in Seattle’s Queen Anne neighborhood, to Kite Partners LLC.
CBRE’s Mark Zoffel, Peter Wright, Reed Hunter, and Spencer Clark represented the seller, Acme Realty, in the transaction. CBRE’s James Bach and Nick DaValle of CBRE’s Debt & Structured Finance team facilitated the loan assumption.
The Q offers studio, one and two-bedroom units and includes a rooftop deck, an on-site fitness center, and pet-friendly amenities. The building is within walking distance of Kerry Park, the Space Needle and Seattle Center. The sale reflects continued investor interest in walkable, close-in Seattle multifamily assets. “Well-located, walkable assets in submarkets like Queen Anne are exactly what multifamily buyers are looking for,” said Zoffel. “This transaction is a good example of that demand playing out.”
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout