Interstate Equities Corp Acquires Woodstone Apartments From Security Properties For $34.75M

The property asset involved in the transaction is Woodstone Apartments, a 124-unit multifamily complex located at 16520 North Road, Bothell, WA. The sale was completed for $34.75 million, resulting in a price per unit of $280,242. The property included a $17.26 million Freddie Mac loan and achieved a 5.9% capitalization rate in the previous year.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $34,750,000
• Buyer: Interstate Equities Corp
• Seller: Security Properties
• Units: 124
• Price Per Unit: $280,242
• Freddie Mac Loan Amount: $17,260,000
• Capitalization Rate: 5.9%

The key individuals involved in the deal include Interstate Equities Corp as the buyer and Security Properties as the seller of the multifamily asset. This transaction reflects the continued investment activity in the Bothell market, furthering the involvement of both parties in the multifamily sector.