Burien Apartments Sell for $7M

Cushman & Wakefield has brokered the sale of the Stratford Square Apartments in Burien, Washington, a suburban city about ten minutes south of Seattle. A local family operator acquired the property consisting of 32 units spread across a mix of garden-style buildings and duplexes with townhome-style layouts from Stratford Square LLC for $7.285 million.

Cushman & Wakefield’s Jacob Odegard, Dan Chhan, Tim McKay, Dylan Roeter, and Matt Kemper represented the buyer in the transaction. The seller was represented by Jon Breiner and Nick Hemming of Paragon Real Estate Advisors. “The seller financed the sale which helped the buyer get into the deal with a lower down payment and interest expense while they work on stabilizing the asset. The buyer is excited to have acquired a high-quality asset with great upside potential,” said Odegard.

Located at 12707-12733 13th Lane SW, Stratford Square Apartments was built in 1988. The property is walkable to retail amenities and is within minutes of the Seattle-Tacoma International Airport.

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