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$125M Issaquah Off-Market Deal One of Puget Sound’s Largest this Year
Issaquah Terrace, a 298-unit garden-style apartment community in Issaquah, WA, traded hands in what ranks as one of the Puget Sound’s largest multifamily sales this year. Three entities associated with Palo Alto, CA-based Pacific Urban Residential acquired the property for $125 million from Shelter Holdings, which developed the property in 2015.
Located at 906 N.E. Lilac St. on the Issaquah plateau near Lake Sammamish, the 13-acre property consists of both apartments and townhomes. The 21-building complex includes an expansive, on-site fitness center, pool and barbeque facilities
Colliers International’s Dave Schumacher, Tim McKay, Dan Chhan and Sam Wayne handled the off-market transaction.
McKay says, “While always a highly desirable residential location, the Eastside of the Puget Sound has become one of the Pacific Northwest’s most appealing investment markets due to the growth of the business environment in nearby Bellevue, Kirkland and Redmond.”
Connect Seattle is set for this week at Coterie Worklounge. Plan to join us on November 7th for the afternoon of CRE conversations and networking. You can find out more information and register on this link.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


