Colliers has announced the $33 million sale of Campus Apartments and University Manor, a pair of multifamily communities located in Seattle’s University District. The two property portfolio offers a total of 119 units along NE 43rd Street and Brooklyn Avenue. The firm’s Tim Mckay, Dan Chhan, Sam Wayne and Matt Kemper arranged the off-market transaction.
“These two properties represent an excellent investment in one of Seattle’s hottest submarkets,” said Wayne. “Demand for housing in the U-District shows no signs of slowing down, driven by growing enrollment at UW and by significant multi-sector development in the area.”
Campus Apartments features 39 units and sold for $9 million. University Manor is comprised of 80 units and sold for $24 million. Both properties are within walking distance to the University of Washington and are adjacent to the light rail station. In addition, they have excellent access to downtown Seattle employment opportunities.
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.