Seattle & Northwest + Finance | December 4, 2020

Sack Snags Woodinville MF in $46M Off-Market Deal

San Francisco-based Sack Properties acquired Chateau Woods, a 114-unit apartment community in Woodinville from BPM Real Estate Group for $45.75 million. The Eastside asset at 18250 142nd Ave. NE is adjacent to the region’s technology hubs of Bellevue, Redmond, Kirkland and Seattle and employers such as Amazon, Microsoft, Google and Facebook.

Sack Properties’ Kirby Sack says, “Chateau Woods fits perfectly into our long-term portfolio of suburban multifamily properties. Typically, our assets are of older vintage, but here we were able to uncover opportunity in a 2008 asset.”

The property is an Energy Star Certified condo-quality asset, with a unit mix that includes 59 one-bedroom units, and 55 two-bedroom units. The elevator-served community features a resident clubhouse, a 24-hour fitness center, bike storage, and outdoor courtyards with dining and barbeque areas.

Institutional Property Advisors’ (IPA) Giovanni Napoli, Philip Assouad, Ryan Dinius and Sidney Warsinske represented the buyer. JLL Capital Markets’ Charles Halladay, Peter Smyslowski, Chris Gandy and Matt Cimino handled the acquisition financing.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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