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MIG Dives into BluWater Apartments in North Seattle
Newport Beach-based MIG Real Estate LLC recently acquired BluWater, a 152-apartment community in Everett, WA. Located at 11311 19th Ave. SE in the north Seattle area, BluWater is the fifth Seattle-area multifamily community managed by MIG.
“The community’s proximity to I-5, Silver Lake and retail options make it a well-located opportunity to implement our exterior and interior renovation plan,” says Raul Alcaraz, multifamily acquisitions manager at MIG. “North Seattle is a vibrant area with high residential desirability and BluWater furthers our goal of expanding MIG’s diversified portfolio into dynamic submarkets such as this one.”
The seven three-story buildings that comprise BluWater were built in 1991 and contain 152 one-, two-and three-bedroom apartments with eight-foot ceilings that average 923 square feet.
Giovanni Napoli and Phillip Assouad of Institutional Property Advisors (IPA), a division of Marcus & Millichap, brokered the acquisition.
- ◦Sale/Acquisition
