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JLL Completes $125M Sale Of Radiate Apartments In Redmond, WA
SOLD
Missouri
See Similar DealsMultiFamily
Sold 08/17/2023
SOLD
JLL Completes $125M Sale Of Radiate Apartments In Redmond, WA
15808 Bear Creek Parkway
See Similar DealsMultiFamily
Sold 08/17/2023
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:
- Property Type: Multifamily
- Transaction Amount: $125,000,000
- Address: 15808 Bear Creek Parkway
- Market: Redmond, WA
- Units: 360
- PPU: $347,222
- Buyer: Jackson Square Properties
- Seller: Fairfield Residential
- Brokers: Chris Ross, Corey Marx, Ira Virden, Jordan Louie, Michael Lyford, Reed Curtis & David Young - JLL
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
SELLER
Details
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Deal Type
30 years
10 years
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
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