JLL Income Property Trust Sells Stonemeadow Farms Multifamily In Bothell For $93.1 Million

The property asset involved in this transaction is a multifamily property known as Stonemeadow Farms, located at 23028 27th Avenue Southeast in Bothell, WA. The property was sold for $93,100,000 and consists of 280 units, which reflects a price per unit of $332,500. The property was originally built in 1999 and underwent renovations between 2014 and 2018, offering one- to three-bedroom units with rents starting at $1,775.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $93,100,000
• Units: 280
• Price Per Unit: $332,500
• Seller: JLL Income Property Trust
• Market Location: Bothell, WA

This transaction involved JLL Income Property Trust as the seller, which had previously acquired the property for $81.8 million in 2019. The buyer's specific identity has not been disclosed in the context, and the property is situated 22 miles north of Seattle.