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Lynnwood Apartment Complex Sells for $20M
Glennbrook Apartments, an 80-unit multifamily property located in Lynnwood, has sold for $20.6 million.
Situated at 3717 148th St. SW, the property was acquired by Glennbrook-Lynnwood LLC, an entity associated with Bellevue-based multifamily investor Curtis Capital Group, reported the Puget Sound Business Journal.
Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and found the buyer. The IPA team included Ryan Harmon, Philip Assouad, Giovanni Napoli, Nick Ruggiero and Anthony Palladino. The sales price equated to more than three times what it traded for in 2010.
The 37-year-old complex near Lake Serene was last acquired by Kirkland-based Weidner Apartment Homes for $6.8 million in 2010. It has a mix of 24 one-bedroom and 56 two-bedroom units, and totals 64,300 square feet.
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Northmarq Arranges $60.7M Refi for SLC-Area Apartments
Argenic obtained a $60.7 million refinancing on the Altair at Riverwalk, a 378-unit garden apartment community located at 1575 W Riverwalk Dr. in West Haven, Utah. Northmarq’s Salt Lake City Debt + Equity team, led by Ben Vroman, Nate Barnson and Bracken Ostler, arranged the financing. The bridge loan was structured with a two-year term. Built in...
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Campus Realty Advisors to Buy, Upgrade Texas State Student Housing Community
BWE secured a $23.5 million loan to finance the acquisition and substantial improvement of The Edge, a 173-unit, 553-bed student housing community near Texas State University in San Marcos, TX. BWE’s Chris Carroll and Max Miller originated the financing on behalf of Campus Realty Advisors. Texas State has seen a surge in enrollment, which has...
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Walker & Dunlop Arranges $176M Refi for Atlanta-Area BTR Communities
Walker & Dunlop arranged a $176 million credit facility for seven single-family rental communities in various neighborhoods within the Atlanta, Georgia, MSA. The Walker & Dunlop New York Capital Markets team, led by Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Michael Ianno, Jackson Irwin, and Christopher de Raet, arranged the financing on behalf of institutional investors advised by J.P. Morgan Asset Management....
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Chase Lord
SVN OAK Realty Advisors | Oklahoma
Lenders
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Brad Hayden
Colorado
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Felix Gutnikov
California
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Gary Bechtel
North Carolina
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Arbor Realty Trust
Management
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Essex Property Trust, Inc.
California
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Asset Living
Texas
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AOG Living
Texas
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Apartment Management Consultants, LLC
Utah
