Seattle & Northwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Glencrest Bags Briggs Village Apartments in Olympia
San Francisco-based Glencrest Group acquired Briggs Village Apartments, a 72-unit, new construction multifamily property located at 4225 Briggs Drive SE in Olympia. The property is part of a 137-acre master-planned community and is two miles from downtown Olympia and a short commute to Joint Base Lewis-McChord.
Built in 2019, the six-building, midrise apartment community offers a mix of one-, two- and three-bedroom units featuring high ceilings, modern appliances, and balconies or patios with storage. Property amenities include covered parking, a playground, park, basketball court and close proximity to a YMCA facility.
CBRE Capital Markets’ Debt & Structured Finance’s Andrew Behrens arranged the $12.81 million acquisition loan from lender Freddie Mac on behalf of the borrower and buyer. CBRE’s Jay Timpani, Mitchell Belcher and Steven Chattin represented the seller, Briggs Apartments LLC.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
