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CBRE Sells 300-Unit Pasco MF to San Francisco Investor

CBRE facilitated the sale of The Crossings at Chapel Hill, a 300-unit multifamily community in the Tri-Cities, to San Francisco-based Glencrest Group for an undisclosed amount. CBRE’s Phil Oester, Josh McDonald, and Joe Nydahl represented the seller in the transaction.

Located at 6626 Chapel Hill Boulevard, the property was constructed in two phases in 2016 and 2012. It spans 13, three-story residential buildings with one-, two- and three-bedroom floor plans. “Pasco’s rapid population growth, attractive demographics, and growing demand for rental housing made this a strong investment and successful exit for the seller,” said CBRE’s Oester.

The community sits on 13.47 acres just minutes south of Interstate 182 and is situated amid major economic activity in Pasco. It’s approximately nine miles west of Amazon’s two new fulfillment centers, which the company recently announced would create 1,500 local jobs. It’s also near the Broadmoor district, a master-planned, mixed-use community of 1,240 acres under development.


Inside The Story

CBREGlencrest Group

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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