Seattle & Northwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Ridgedale Marks Seattle’s Largest Garden-Style Apartment Deal This Year
The Ridgedale Apartment Homes, a 334-unit multifamily community in Bellevue, WA, recently sold to an affiliate of New York-based Abacus Capital Group for $144 million. The seller was The Ezralow Company, a Calabasas, CA-based real estate investment and development firm.
Located at 14111 SE 6th St., the garden-style community was originally constructed in 1970 and fully renovated in 2015. The property is comprised of 25 two-story buildings on a 13.41-acre site. The unit mix consists of one-, two- and three-bedroom apartments with an average size of 865 square feet.
“The Ridgedale is one of our success stories in this region,” said Bryan Ezralow, CEO of The Ezralow Company. “It is well-located and poised to benefit from the future growth of the Eastside submarket.”
CBRE’s Eli Hanacek, Jon Hallgrimson, Kyle Yamamoto and Byron Rosen represented the seller.
“This deal marks Seattle MSA’s largest garden-style apartment community transaction in 2021,” said Hanacek. “The Ridgedale Apartment Homes is an exceptionally well-located asset in the heart of the Eastside’s booming employment hub and the best public school district in the state.”
The property is three miles from downtown Bellevue, one of the largest employment centers in the Seattle metropolitan area.
- ◦Sale/Acquisition
