Timberlane Partners Acquires Seattle Multifamily For $37M
1000 Fern Street Southwest Olympia, Washington 98502, USA
$37,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 1, 2023
AI
The multifamily property located at 1000 Fern Street Southwest in Seattle, WA has been sold for a total price of $37,000,000. The property consists of 143 units, with a per unit price of $258,741.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $37,000,000
- Units: 143
- Price Per Unit: $258,741
The buyer in this transaction is Timberlane Partners, while the seller is Commercial Property Services Inc. The deal was facilitated by Jordan Louie from JLL.
Players
Olympia MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93