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CBRE Arranges $53M Sale of 186-Unit MF in Renton
CBRE arranged the sale of 2000 Lake Washington, a 186-unit multifamily community in Renton, Washington, for $53.2 million to Waterton.
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.
“The property’s exceptional location overlooking Lake Washington, proximity to the region’s leading employers and amenities, and recent capital improvements were key factors in attracting strong interest from buyers,” said Mr. Yamamoto, senior vice president at CBRE. “When combined with limited supply, affluent demographics and low vacancy, 2000 Lake Washington is a generational quality asset on the Eastside.”
Located at 1300 N 20th Street in Renton, the property was built in 1986 and renovated in 2016. The property sits on 9.2 acres with 18 buildings that comprise one-bedroom and two-bedroom floorplans.
