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Strong Everett Market Lends to Combined Multifamily Buys
Two garden-style multifamily properties, Highlander and Cascadian, recently sold in Everett, WA for $39.65 million in combined sales. The buyer was California-based Auctus Capital Partners.
Kenny Dudunakis, Ben Johnson, David Sorensen and George Pallis of Berkadia Seattle completed the sale on behalf of the seller, Washington-based Sherron Associates LLC.
“Both Highlander and Cascadian represent very attractive value-add opportunities in a strong Everett submarket,” said Sorensen. “The newer owners will be able capitalize on their experience in repositioning multifamily properties while the seller was able to realize sizable gains after decades of ownership. This is a great result for both the buyer and seller alike.”
Highlander is located at 2415 11th St. The 136-unit property features one- and two-bedroom floorplans with balconies. Cascadian is a 109-unit property located at 2232 12th St. The property features one- and two-bedroom floor plans with a balcony or patio.
Both properties are located near Interstate 5, and the shops and restaurants along North Broadway Avenue.
- ◦Sale/Acquisition
