Updated Oct 31, 2025
MG Properties Acquires Dockside Apartments In Kent WA For $95.6 Million With CBRE As Brokers
23605 62nd Avenue South
$95,600,000
Units
344
Asset Type
MultiFamily
Closing
Oct 30, 2025
About this deal
AI
A multi-family asset, Dockside Apartments, located at 23605 62nd Avenue South in Kent, WA, has been sold for $95.6 million. This community consists of 344 units, which breaks down to a price per unit of $277,907.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $95,600,000
- Units: 344
- Price Per Unit: $277,907
- Buyer: MG Properties
- Brokers: Eli Hanacek, Mark Washington, Kyle Yamamoto & Natalie Kasper - CBRE
- Mortgage Brokers: Troy Tegeler & Trevor Breaux - CBRE
- Market: Kent, WA
- Sale Date: 10/30/2025
MG Properties is expanding its portfolio with this acquisition, being their 11th property in the Seattle area. The transaction was facilitated and financed by CBRE, showcasing their involvement in this significant deal.
On the Map
$95,600,000
MultiFamily
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Players
Kent MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93