{"id":1004052326,"date":"2011-07-09T21:04:40","date_gmt":"2011-07-10T05:04:40","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=9197"},"modified":"2022-12-02T23:06:52","modified_gmt":"2022-12-03T07:06:52","slug":"multifamily-properties-trade-hands-in-puget-sound","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/multifamily-properties-trade-hands-in-puget-sound\/","title":{"rendered":"Multifamily Properties Trade Hands in Puget Sound"},"content":{"rendered":"<p>By Alex Girda, Associate Editor<\/p>\n<p>Multifamily properties have been attracting investor attention in Seattle all year. In the past week alone, three trades took place.<\/p>\n<p><em>The Puget Sound Business Journal<\/em> reported on the sale of a 512-unit apartment complex in Mountlake Terrace, one of the largest sales of its kind in 2011. Holland Residential acquired the 24 apartment buildings at 4208 236<sup>th<\/sup> St. S.W. from Equity Residential for a reported $62 million. Vancouver-based Holland Residential was represented by Jones Lang LaSalle Inc.<\/p>\n<p>In addition, the Eastpoint Corporate Center at 22833 Black Nugget Road in Issaquah was sold for approximately $32 million. The seller was Piedmont Office Realty Trust, which\u00a0ceded the property to the Lake Washington Land Co. The building offers 156,323 square feet of Class A office space and was constructed in 2001. Piedmont acquired the building back in 2003 but has been on a selling spree recently, having also sold a Colorado property.<\/p>\n<p>Meanwhile, the much reported sale of the Queen Anne buildings at 1925 and 2111 Queen Ave. North closed, with RREEF, a subsidiary of Deutsche Bank, purchasing the 81 apartment units and 27,000 square feet of retail space. RREEF already owns three multifamily buildings and 8 million square feet of commercial property in the Puget Sound area. A representative for the company told <em>The Puget Sound Business Journal <\/em>that the two properties were fully occupied as of June 7.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Alex Girda, Associate Editor<br \/>\nMultifamily properties have been attracting investor attention in Seattle all year. In the past week alone, three trades took place.<br \/>\nThe Puget Sound Business Journal reported on the sale of a 512-unit apartment complex in Mountlake Terrace, [&#8230;]<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1610],"tags":[],"class_list":["post-1004052326","post","type-post","status-publish","format-standard","hentry","category-latest","category-seattle"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Multifamily Properties Trade Hands in Puget Sound - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/multifamily-properties-trade-hands-in-puget-sound\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Multifamily Properties Trade Hands in Puget Sound\" \/>\n<meta property=\"og:description\" content=\"By Alex Girda, Associate Editor Multifamily properties have been attracting investor attention in Seattle all year. 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