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Turner Impact Capital Claims First Pacific Northwest Asset
Santa Monica, CA-based Turner Impact Capital acquired a multifamily community in Renton, marking the firm’s first investment in the Pacific Northwest and bringing its total number of acquired housing units to 9,755. The 240-unit Sunset View community was reportedly purchased for nearly $50 million by Turner Multifamily Impact Fund II from a venture of Meter Properties, Property Income Advisers and Rasameel Structured Finance Co.
Turner Impact Capital’s Gee Kim says, “Seattle is a dynamic, diverse and growing market that meets all of our investment criteria. We are eager to begin serving the 450 residents at Sunset View and enriching the community with valuable services to help create a ‘pride in rentership’ that boosts resident satisfaction as well as property operating performance.”
Located at 2101 SW Sunset Blvd. near SeaTac International Airport and less than 10 miles from downtown Seattle, the complex is well-positioned in a flourishing market surrounded by major regional job centers. Amenities at the expansive complex include a clubhouse, pool, and fitness center, as well as an outdoor game area.
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