Buy it, renovate it, sell it. Done, done and done … in Redmond, WA. Lowe is selling the 286-unit, multifamily/retail Talisman building at Redmond Town Center. Lowe first purchased the Talisman in 2015.
It’s an off-market deal and specifics are unavailable.
Talisman is the first apartment building to be developed within the 1.2-million-square-foot mixed use lifestyle Center, and includes 9,400 square feet of ground floor specialty retail shops that complement the existing retailers at the Center, according to a news release from Lowe.
With 95 percent occupancy at present, the residents take advantage of their proximity to several entertainment, dining, and shopping options – most within walking distance.
This isn’t Lowe’s first rodeo in the PNW, of course. Lowe’s activities in the Pacific Northwest date to the firm’s development of the Klahanie master-planned community in the 1980s and 1990s. Lowe is currently developing Mason and Main, a 550-unit apartment complex in Seattle’s Yesler Terrace neighborhood.