CBRE Facilitates $80M Sale of Silverdale Multifamily Community
CBRE announced the $79.5 million sale of Cascade Ridge, a 270-unit garden-style multifamily community located at 1206 NW Tahoe Lane in Silverdale, Washington.
CBRE’s Eli Hanacek, Mark Washington, Kyle Yamamoto and Natalie Kasper represented the seller, Jackson Square Properties. “Cascade Ridge represents a rare opportunity to acquire a high-quality multifamily asset in a supply-constrained market with strong fundamentals,” said Hanacek, vice chairman at CBRE. “With significant value-add potential and proximity to major employment drivers, the property is well-positioned for long-term growth.”
Cascade Ridge is situated on 16.53 acres in the heart of Silverdale, offering a mix of one-, two-, and three-bedroom apartments, as well as townhome-style units. Originally constructed in 1992, the property features low-density living at 16 units per acre. The property is situated just minutes from Silverdale’s revitalized downtown core and adjacent to Kitsap Mall and the Kitsap Transit Center, providing convenient access to retail, transportation, and lifestyle amenities.
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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