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CEP Multifamily Acquires 196-Unit Kerf Apartments In Bellingham From One Trent For $50M
SOLD
$50,000,000
Washington
See Similar DealsMultiFamily
Sold 07/08/2025
SOLD
CEP Multifamily Acquires 196-Unit Kerf Apartments In Bellingham From One Trent For $50M
208 North Samish Way
See Similar DealsMultiFamily
Sold 07/08/2025
Summary
WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale
The asset involved in the transaction is a multifamily property located at 208 North Samish Way in Bellingham, WA. The property consists of 196 units and was sold for $50 million, which equates to approximately $255,102 per unit.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $50,000,000
- Address: 208 North Samish Way
- Market: Bellingham, WA
- Unit Count: 196
- Price Per Unit: $255,102
- Buyer: CEP Multifamily
- Seller: One Trent
- Broker Representatives: David Young, Corey Marx & Chris Ross - JLL
This transaction was facilitated by brokerage representatives David Young, Corey Marx, and Chris Ross from JLL, representing both sides of the deal. CEP Multifamily has successfully acquired the property, known as the Kerf Apartments, located in Bellingham’s Sehome neighborhood.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,666,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$177,639.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$237,025.51
Annual Debt Service$2,844,306.11
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