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RISE Looks to Unlock Sancerre’s Potential by Reimagining the Asset
RISE Properties Trust and an undisclosed joint venture partner recently acquired Sancerre Apartments, a 140-unit garden-style community located in Kirkland, WA for $49.5 million. Located at 12648 NE 144th St., Sancerre is situated between several major eastside employment hubs including Bellevue, Kirkland, Bothell and Redmond.
Built in 1985, the property has been well-maintained and features a mix of one- and two-bedroom units. The property will be managed and renovated by Thrive Communities, a Seattle-based property management firm with more than 16,000 apartments under management.
“Sancerre was sourced off-market and we are excited to unlock its potential by reimagining the asset’s branding, amenities and unit finishes,” said Matt Berg, investment manager at RISE. “The Kirkland location is well-poised to take advantage of anticipated robust eastside job growth.”
- ◦Sale/Acquisition
