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JLL Completes $125M Sale Of Radiate Apartments In Redmond, WA

Property Image
SOLD
$125,000,000
Ira Virden
David Young
+ 4

Missouri

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MultiFamily
Sold 08/17/2023
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Property Image
SOLD

JLL Completes $125M Sale Of Radiate Apartments In Redmond, WA

15808 Bear Creek Parkway

See Similar Deals
MultiFamily
Sold 08/17/2023
Ira Virden
David Young
+ 4
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Summary

MISSOURI
Asset Type:MultiFamily
Transaction Type:Sale

The asset involved in the transaction is Radiate Apartments, a multifamily community comprising 360 units located at 15808 Bear Creek Parkway in Redmond, Washington. The sale price of the property is $125,000,000, translating to a per-unit price of $347,222.

Summary of transaction details:

JLL Capital Markets was responsible for overseeing the transaction, facilitating the sale between Jackson Square Properties and Fairfield Residential, with notable participation from the brokers involved in the deal.

Players

David Young
6 deals$135.3M volume
BROKER

Ira Virden
JLL
8 deals$535.8M volume
BROKER

Chris Ross
JLL
10 deals$687.9M volume(858) 692-1312
BROKER

Corey Marx
JLL
8 deals$627.9M volume(206) 607-1726
BROKER

Jordan Louie
CBRE
6 deals$314.5M volume(206) 971-7007
BROKER

Michael Lyford
JLL
4 deals$252M volume(206) 336-5433
BROKER

Reed Curtis
JLL
3 deals$196.5M volume(206) 336-5445
BROKER

BUYER

Details

SOLD
IMAGE: Chris Ross, Corey Marx, Ira Virden, Jordan Louie, Michael Lyford, Reed Curtis & David Young DATE: 08/17/2023 ADDRESS: 15808 Bear Creek Parkway MARKET: Redmond, WA ASSET TYPE: Multifamily BUYER: Jackson Square Properties SELLER: Fairfield Residential BROKERS: Chris Ross, Corey Marx, Ira Virden, Jordan Louie, Michael Lyford, Reed Curtis & David Young - JLL SALE PRICE: $125,000,000 UNITS: 360 ~ PPU: $347,222 NOTE: JLL Capital Markets has successfully completed the $125 million sale of Radiate Apartments, a 360-unit luxury-grade multifamily community in Redmond, Washington.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$6,666,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$444,098.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$592,563.77
Annual Debt Service$7,110,765.26