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Seattle-Area MF’s Trade for $133M
San Diego-based MG Properties Group acquired two Seattle-area multifamily properties for a combined $132.8 million. The assets total 467 units, and include Beaumont Apartments in Woodinville, WA and Newberry Square Apartments in Lynnwood, WA.
Built in 2009, Beaumont Apartments is a 344-unit Class A apartment community. Moran & Company’s Jeff Williams and Tim Brown represented the undisclosed sellers. MG Properties purchased the asset subject to the assumption of $49.3 million of fixed-rate debt, and obtained a $10.4 million Fannie Mae fixed-rate supplemental loan arranged by NorthMarq Capital’s Nathan Prouty.
Built in 2005, Newberry Square Apartments is a 123-unit Class A apartment community in a submarket between Everett and Seattle. Berkadia’s Kenny Dudunakis, David Sorensen and Ben Johnson represented the unnamed seller. The acquisition was financed with a $21.9 million Fannie Mae Loan arranged by Walker & Dunlop’s Bryan Frazier.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


