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Seattle & Northwest  + Apartments  | 

Equity Residential Snags Suburban Seattle MF for $49M

Chicago-based Equity Residential acquired the newly-built Notch Apartments in Newcastle for $48.86 million. The seller of the 158-unit mid-rise development at 13800 Golf Club Rd. was Seattle’s Goodman Real Estate.

The deal represents a portfolio diversification move of sorts by Equity Residential, since many of its 38 Puget Sound region multifamily properties are in downtown Seattle.

Goodman indicated the Eastside asset was divested in order for the company to redeploy capital. Goodman acquired the nearly 3.8-acre site in 2015 for $4 million and subsequently developed the multifamily property.

The four- and six-story building project was completed earlier this year and includes studio, one-, two- and three-bedroom options, with eight units designated as affordable. Amenities at the property include a fitness center, clubhouse and rooftop terrace.

Berkadia’s David Sorensen brokered the off-market deal.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Development
  • ◦Sale/Acquisition
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