Epic Asset Management Acquires 243-Unit Postmark Apartments In Shoreline For $82.75M

The transaction involved the acquisition of Postmark Apartments, a multifamily asset located at 17233 15th Avenue Northeast in Shoreline, WA. The sale price for this property was $82,750,000, which translates to approximately $340,535 per unit for the 243 units in the complex. The deal was financed with a $42 million loan from Nationwide Life and Annuity Insurance Co.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $82,750,000
• Buyer: Epic Asset Management
• Seller: Wolf Co
• Broker: Kidder Matthews
• Units: 243
• Price Per Unit: $340,535
• Financing: $42 million loan from Nationwide Life and Annuity Insurance Co.

This transaction marks a significant expansion for Epic Asset Management, increasing its Puget Sound portfolio to over 5,000 units. The involvement of Kidder Matthews as the broker facilitated the successful completion of this deal.