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Seattle & Northwest  + Seattle + Seattle  + Apartments  |  November 4, 2021
Solara apartments 12736 Lake City Way NE Seattle
Lisa Brown
By: Lisa Brown

Buyer Appetite for Seattle Investment is at All-Time High

Solara apartments, a 238-unit multifamily community in North Seattle, recently sold to MIG Real Estate for $84 million. Built in 2001, the three-building mid-rise apartment community is located at 12736 Lake City Way NE.

CBRE’s Jon Hallgrimson, Eli Hanacek, Frank Bosl and Kyle Yamamoto represented the seller, Sares Regis Multifamily Funds, a multifamily value-add investment manager based in Newport Beach. Bill Chiles, Scott Peterson and Brian Cruz with CBRE capital markets in San Diego partnered with CBRE’s Seattle multifamily team in arranging $62.6 million in financing for the acquisition on behalf of MIG Real Estate.

“We received significant interest in Solara due to the highly desirable large floorplans complete with traditional one-bedroom homes and an abundance of amenity space. Buyer appetite to invest in the Seattle market recovery is at an all-time high,” said Hanacek.

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Inside The Story

Eli Hanacek

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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