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Pacific Urban Investors Acquires Edgewood Park Multifamily In Bellevue, WA For $68.5M

Property Image
SOLD
$68,500,000
George Pallis
David Sorensen
+ 2

Washington

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MultiFamily
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Property Image
SOLD

Pacific Urban Investors Acquires Edgewood Park Multifamily In Bellevue, WA For $68.5M

1501 145th Place Southeast

See Similar Deals
MultiFamily
Sold
George Pallis
David Sorensen
+ 2
Contact now

Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale

The transaction involved a multifamily asset located at 1501 145th Place Southeast in Bellevue, WA, specifically Edgewood Park, which comprises 195 units. The property was sold for $68.5 million, resulting in a price per unit of $351,282.

Summary of transaction details:

This deal was facilitated by a team of brokers from Berkadia, with five representatives involved in the transaction, underscoring the collaborative effort in executing the sale between the buyer and seller. The successful transaction showcases the professionalism of the brokerage team in managing the intricacies of a multifamily property deal.

Players

Kenny Dudunakis
5 deals$275.5M volume
BROKER

David Sorensen
Berkadia
5 deals$275.5M volume
BROKER

Ben Johnson
Berkadia
7 deals$329.5M volume(206) 801-3144
BROKER

George Pallis
Berkadia
5 deals$275.5M volume
BROKER

Peter Dudunakis
Berkadia
1 deal$68.5M volume(206) 795-4169
BROKER

Pacific Urban Investors
BUYER

Details

SOLD
IMAGE: 04/22/2025 ADDRESS: 1501 145th Place Southeast MARKET: Bellevue, WA ASSET TYPE: Multifamily BUYER: Pacific Urban Investors SELLER: Acacia Capital Corp BROKERS: Ben Johnson, David Sorensen, George Pallis, Peter Dudunakis & Kenny Dudunakis - Berkadia SALE PRICE: $68,500,000 UNITS: 195 ~ PPU: $351,282 NOTE: Pacific Urban Investors has acquired Edgewood Park, a 195-unit apartment complex in Bellevue, WA, for $68.5 million from Acacia Capital Corp.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,653,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$243,366.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$324,724.95
Annual Debt Service$3,896,699.36