Lynnwood LLC Acquires 80-Unit Multifamily Property For $20.6 Million In Lynnwood WA

A multifamily property located at 3717 148th Street Southwest in Lynnwood, WA, was sold for $20.6 million. The property, known as Glennbrook Apartments, contains 80 units, resulting in a price per unit of $257,500. This transaction marked a significant increase from its 2010 acquisition price of $6.8 million by Weidner Apartment Homes.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,600,000
• Address: 3717 148th Street Southwest
• Market: Lynnwood, WA
• Units: 80
• Price Per Unit: $257,500
• Buyer: Lynnwood LLC

The deal was represented by brokers Anthony Palladino, Giovanni Napoli, Philip Assouad, Ryan Harmon, and Nicholas Ruggiero from Institutional Property Advisors. The buyer, Glennbrook-Lynnwood LLC, is affiliated with Curtis Capital Group.