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CBRE Arranges Sale of 400-Unit Apartment Complex in Renton
CBRE has arranged the sale of The Carriages at Fairwood Downs, a 400-unit multifamily community in Renton, Washington. New York-based Abacus Capital Group acquired the property for $107 million in what was the second-highest multifamily deal in King County this year, reported the Puget Sound Business Journal.
Eli Hanacek, Mark Washington, and Kyle Yamamoto with CBRE’s Pacific Northwest multifamily team represented the sellers, Sequoia Equities, Inc., in the transaction. Built in 1988, The Carriages at Fairwood Downs is located at 15030 SE 179th Street. The garden-style community features 37 buildings with one-, two- and three-bedroom floorplans as well as 196 townhomes.
The property sits on more than 28 acres and is located near several retail amenities, including The Landing, Westfield Southcenter, and Kent Station. The community offers quick access to I-405 via the Maple Valley Highway, and Bellevue and I-90 corridor employment centers, as well as Boeing and Paccar’s manufacturing facilities.
