Bridge Housing Acquires Vue Kirkland Multifamily In Kirkland WA For $55.2 Million

The asset involved in this transaction is a MultiFamily property located at 11733 Northeast 131st Place in Kirkland, WA. It was sold for $55,200,000, equating to a price per unit of $276,000 for its 200 units. The property, known as Vue Kirkland, was built in 1977 and offers a range of living options from studios to two-bedroom apartments, with rents starting at $1,785 and featuring modern amenities.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $55,200,000
• Buyer: Bridge Housing
• Seller: Acacia Capital
• Lender: National Equity Fund
• Units: 200
• Price Per Unit: $276,000

This transaction was facilitated by Bridge Housing, which represents the buyer, and Acacia Capital, the seller. The financing structure involved a $34.25 million low-income housing tax credit loan provided by National Equity Fund.