Updated Dec 23, 2025
Griffis Residential Acquires 330-Unit Multifamily Property In Shoreline For $112.5 Million
15560 Westminster Way North
$112,500,000
Units
330
Asset Type
MultiFamily
Closing
Dec 22, 2025
About this deal
AI
A multi-family apartment building located at 15560 Westminster Way North in Shoreline, WA has been involved in a sale transaction. The asset consists of 330 units and was sold for $112,500,000, equating to a price per unit of $340,909.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $112,500,000
- Units: 330
- Buyer: Griffis Residential
- Seller: Stockbridge Capital Group, LLC
Griffis Residential is investing in growing markets like Puget Sound, aiming to capitalize on strong rent growth and demand following their purchase of the property from Stockbridge Capital Group, LLC.
Players
Shoreline MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $340.9K per unit across 330 units on a published $112.5M (2025).
Browse Shoreline multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93