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Decron Snags Seattle MF from Kennedy Wilson for $79M
Decron Properties completed its second significant investment in the Seattle MSA within the past 10 months. The Los Angeles-based investor acquired a 302-unit multifamily community in the Seattle submarket of Kent, WA from Kennedy Wilson for $78,750,000.
The purchase of Indigo Springs increases Decron’s Pacific Northwest portfolio to 860 units. Decron made its initial investment in the market by acquiring Avana 522, a 558-unit multifamily community in Bothell, WA for $173 million in November 2018. Decron plans to increase its portfolio to 2,500 units in the greater Seattle metro market over the next three to five years.
Featuring a mix of one, two and three-bedroom homes, the newest property has already performed partial upgrades with 50% of the community, proving that a strong value-add opportunity exists within the community.
JLL’s David Young and Corey Marx marketed the property on behalf of the seller.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


