Glencrest Group Acquires Fern Ridge Multifamily In Olympia, WA For $16.94M

Glencrest Group has acquired Fern Ridge, a 99-unit apartment property located at 1309 Fern Street Southwest in Olympia, Washington. The property was sold by Stan Kleweno of Transpacific Investments for a total price of $16.94 million, which equates to $171,111 per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $16,940,000
• Units: 99
• Price Per Unit: $171,111

Mike Bergelson, representing Glencrest Group, and Stan Kleweno, representing Transpacific Investments, were the key individuals involved in the deal. The transaction was facilitated by broker Colliers.