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Bainbridge Island Apartment Property Trades for $65.5M, Newmark Arranges

Bainbridge Island Apartment Property Trades for $65.5M

Newmark Executive Managing Director Marty Leith, representing the seller, has completed the sale of BLIS Apartments, a 114-unit multifamily community located on Bainbridge Island, WA. Cairn West purchased the property from SoundWest Group for $65.5 million.

“With easy connectivity to Seattle, Puget Sound and the mountains, BLIS Apartments represents the very best of Pacific Northwest living. This prime location in a supply-constrained submarket led to extensive interest,” said Leith in a news release.

“We couldn’t be more proud of this project which achieved Gold LEED standard, and included the creation of a city park on the adjacent property,” added SoundWest Group CEO Wes Larson.

BLIS Apartments is comprised of 107 apartments and seven loft townhomes. Unit interiors feature vinyl plank flooring, quartz countertops and stainless steel appliances. Community amenities include a courtyard terrace, fitness center, EV charging stations, community spaces and a conference room.

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Newmark's Marty LeithCairn WestSoundWest GroupBLIS Apartments

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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