Dan Byrnes Of Security Properties Acquires 186-Unit Multifamily In Seattle For $37.75M

This transaction involves the acquisition of a multifamily asset known as the Cooper Apartments, situated at 13530 Linden Avenue North in Seattle, WA. The property comprises 186 units and was sold for $37.75 million, translating to approximately $203,000 per unit, which is 28% below its 2019 sale price and significantly lower than the estimated replacement cost.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $37,750,000
• Units: 186
• Price Per Unit: $202,957
• Buyer: Dan Byrnes - Security Properties
• Broker: CBRE

Dan Byrnes represented Security Properties in this transaction, facilitating the purchase of the Cooper Apartments, a notable asset located in Seattle’s Bitter Lake neighborhood. The deal reflects strategic investment activity within the multifamily segment of the Seattle market.