Fairfield Acquires Riverpark Apartments in Redmond

Fairfield has acquired the Riverpark Apartments, a community of 321 studio, one-, two-, and three-bedroom apartments and lofts in Redmond, Washington, that includes 32 affordable apartments.

Located blocks from Redmond’s main business district near Microsoft’s global headquarters, Riverpark features various layouts averaging more than 1,000 square feet, including options with a loft or a den. Fairfield plans to bring additional value to the community through renovations in the coming years. Located at 15803 Bear Creek Pkwy. in Redmond, Riverpark is now leasing under Fairfield management.

“Fairfield is thrilled about the opportunity to acquire a high-quality asset in Redmond. It’s a submarket that we know extremely well, having developed and sold an asset right across the street,” said Vice President of Acquisitions Jason de Guzman. “Riverpark fits right into Fairfield’s acquisition parameters with its large, attractive floor plans, significant rent upside, and discount to replacement cost.”