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CBRE Completes Largest Multifamily Apartment Sale in Kirkland Washington History

CBRE Completes Largest Multifamily Sale in Kirkland History

CBRE has arranged the $242 million sale of the Uplund, a 409-unit, newly built apartment community in Kirkland, WA. According to the firm, the sale represents the largest multifamily apartment transaction in Kirkland, and one of the largest multifamily trades in Greater Seattle history.

Eli Hanacek, Jon Hallgrimson, Mark Washington and Kyle Yamamoto with CBRE Capital Markets represented the sellers in the deal, American Capital Group and Artemis Real Estate Partners. The Uplund consists of two, six-story buildings with studio, one-, two- and three-bedroom floorplans, averaging 790 square feet. 10% of the residences are designed as affordable units.

“Uplund checked all the boxes with best-in-class finishes, a collection of amenities that exceed market standards and a location with easy access to employment centers, retail and recreation,” said Hanacek in a news release. “Kirkland’s multifamily construction pipeline is more subdued than Bellevue, WA and Redmond, WA, positioning new projects like Uplund for long-term renter demand.”

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Inside The Story

CBRE Capital MarketsMark WashingtonAmerican Capital GroupArtemis Real Estate Partners

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.

  • ◦Sale/Acquisition
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