Kinwood Townhomes in Lacey Sell to Glencrest Group

Colliers brokered the sale of Kinwood Townhomes, a 46-unit multifamily community located at 6802–6853 5th Ct. SE in Lacey, Washington.

Glencrest Group, a San Francisco–based real estate investment firm, acquired the property from Jackson Homes. At $281,521 per unit, the transaction sets a strong benchmark for Thurston County multifamily pricing. Colliers’ Chris Hardman, Senior Vice President, and Drew Feldman, Associate, represented both the buyer and the seller in the transaction. “Out-of-state capital continues to pursue opportunities in well-located Pacific Northwest markets, underscoring the region’s long-term investment appeal,” said Hardman.

Developed in 2004 by Jackson Homes, Kinwood Townhomes has traded for the first time since its completion. The community consists entirely of large built-to-rent duplexes with two-, three- and four-bedroom floor plans. “As long-term investors, we were drawn to Kinwood Townhomes because of its unique built-to-rent configuration and strong rental demand in the Olympia-Lacey market,” said John Adair, Managing Partner at Glencrest Group.

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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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