CBRE Facilitates $59M Sale of Mid-Rise Seattle Multifamily
CBRE has arranged the $59.25 million sale of Corner 63 Apartments, a 139-unit multifamily community in Seattle’s Roosevelt neighborhood.
Eli Hanacek, Kyle Yamamoto and Natalie Kasper of CBRE’s Multifamily team in the Pacific Northwest represented the seller, High Street Residential, the residential subsidiary of Trammell Crow Company, in the transaction.
“This transaction underscores the strong investor interest for best-in-class multifamily properties in TOD locations,” said Yamamoto, senior vice president at CBRE. The sale is the highest price per square foot for a market-rate mid-rise multifamily asset since 2022, outside of the Lake Union submarket, according to CBRE.
Located at 6300 9th Ave. NE in Seattle, Corner 63 is a seven-story community completed in 2023. The property offers a mix of studio, one-bedroom and two-bedroom units. The property is a seven-minute walk from the Roosevelt Light Rail Station, providing direct access to downtown Seattle, the University of Washington and major employment centers throughout the region.
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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