Chicago-Based Waterton Snags Seattle Area MF for $53M

Waterton, a Chicago-based real estate investor and operator, has acquired a 186-unit, garden-style apartment community in Renton, Washington.

Eli Hanacek, Mark Washington, Kyle Yamamoto and Natalie Kasper with CBRE’s multifamily team in the Pacific Northwest represented the seller, New York Life Real Estate Investors. Peter Marino, Troy Tegeler, Trevor Breaux and Ryan Greer with CBRE’s Debt and Structured Finance team are arranging the financing.

“We’re excited to add 2000 Lake Washington to our portfolio and further grow our footprint on the east side of Seattle,” said Kevin Ibasco, senior vice president of acquisitions at Waterton. “The property has convenient access to major employment nodes not only in Renton, but also Bellevue, Redmond, and Kent Valley.”

The property sits on 9.2 acres with 18 buildings that feature a mix of one- and two-bedroom floorplans. 2000 Lake Washington is situated near lifestyle and retail amenities in Renton as well as downtown Seattle.

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