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Seattle & Northwest  + Seattle  + Apartments  |  May 21, 2024
Jasmine Kilman
By: Jasmine Kilman

Northmarq Arranges Sale of 37-Unit Seattle Apartments

Northmarq’s Seattle Multifamily Investment Sales team of Casey Zejdlik, Matt Johnston and Taylor Wyman has brokered the sale of the Brooklyn Avenue Apartments for $9.05 million. The 37-unit multifamily property was built in 2016 and is located at 5216 Brooklyn Ave. NE in Seattle.

Northmarq represented the buyer, IFO & Associates LLC, a Seattle- based private investor who was looking to place funds from a 1033 exchange. The seller was J-Pan Investment LLC, a China-based private investor looking to exit the Seattle market.

“Our team set out to assist a family, referred from a repeat client, in placing equity they were looking to invest in a multifamily property,” said Johnston. “The buyer worked with our team to create a business plan to stabilize the asset and maximize NOI during the seller-financing period.”

Located in the University District, Brooklyn Avenue Apartments offers studio and one-bedroom apartment homes. The multifamily property is walkable to the University District Light Rail Station and less than a five-minute drive from the University of Washington campus.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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