Timberlane’s Acquisition Fund & STARS REI Acquire Koi Apartments In Seattle For $55.5M

The Koi apartments, a 166-unit building located at 1139 Northwest Market Street in Seattle's Ballard district, were sold for $55,500,000. The sale price reflects a price per unit of $334,337 for the multifamily property.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $55,500,000
• Units: 166
• Price Per Unit: $334,337
• Buyer: Dave Enslow & John Chaffetz - Timberlane’s Acquisition Fund & Patricio Leighton - STARS REI
• Brokers: Chris Ross, Corey Marx, David Young, Jordan Louie & Michael Lyford - JLL

The joint venture behind the acquisition of the Koi apartments consisted of Timberlane’s Acquisition Fund and STARS REI. The brokers involved in the transaction were Chris Ross, Corey Marx, David Young, Jordan Louie, and Michael Lyford of JLL. This marks the second acquisition in Ballard within two months for the buyers.