HB Management Acquires Barkley Apartment Homes From CEP Multifamily For $47.9M In Bellingham

The transaction involved the sale of a multi-family asset located at 3126 Racine Street, Bellingham, WA, comprising a total of 202 units. The selling price was $48,000,000, which translates to approximately $237,624 per unit.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $48,000,000
• Buyer: HB Management
• Seller: CEP Multifamily
• Brokers: Ryan Harmon, Anthony Palladino, Nicholas (Nick) Ruggiero, Giovanni Napoli & Philip Assouad - Institutional Property Advisors
• Units: 202
• Price Per Unit: $237,624

CEP Multifamily previously traded the Barkley Apartment Homes for $19.4 million in 2010, resulting in a significant increase in value over the years. The deal was facilitated by the brokers from Institutional Property Advisors, who represented the transaction's interests.