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CBRE Facilitates $63M Trade of Redmond Apartments
CBRE arranged the $63.25 million sale of Archstone Redmond Lakeview Apartments, a 166-unit garden-style multifamily community in Redmond.
CBRE’s Eli Hanacek, Mark Washington, Kyle Yamamoto and Natalie Kasper represented the seller, AvalonBay. “This acquisition represents a rare opportunity to secure a rare generational asset on the waterfront. With limited future development in the area, Archstone’s enduring value is underscored by its irreplaceable positioning and the long-term upside it offers to the buyer,” said Hanacek.
Located at 4250 West Lake Sammamish Pkwy NE, Archstone Redmond Lakeview Apartments was built in 1987 on the Lake Sammamish waterfront. The property has one- and two-bedroom units with private patios, walk-in closets and a fireplace.
Archstone is across from the 640-acre Marymoor Park and close to major employers in the tech, gaming, aerospace and healthcare industries. Archstone is also situated between the Redmond Town Center and downtown Bellevue, providing a range of dining, retail and entertainment options.
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