Updated Dec 4, 2024
Waterton Purchases 186-Unit Multifamily Property In Renton From New York Life Real Estate Investors
1300 North 20th Street
$53,130,000
Units
186
Asset Type
MultiFamily
Closing
Apr 29, 2024
About this deal
AI
The multifamily property located at 1300 North 20th Street in Renton, WA, consisting of 186 units, was sold for $53.13 million. The buyer, Waterton, acquired the apartment complex from an affiliate of New York Life Real Estate Investors. With a price per unit of $285,645, this transaction marks Waterton's investment in the property known as 2000 Lake Washington.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $53,130,000
- Units: 186
- Price Per Unit: $285,645
- Address: 1300 North 20th Street
- Market: Renton, WA
Waterton, a Chicago-based investment manager, successfully closed the deal as the buyer for the 186-unit apartment property in Renton. On the other end of the transaction, the seller was an affiliate of New York Life Real Estate Investors. This acquisition further solidifies Waterton's presence in the real estate market, showcasing their strategic investment decisions in the multifamily sector.
On the Map
$53,130,000
MultiFamily
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Renton MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93