Timberlane Partners Acquires Copper Ridge Apartments From SCS Development Co For $70.7M

The Copper Ridge Apartments, a 325-unit multifamily property located at 4600 Davis Avenue South in Renton, WA, was sold for $70,700,000, equating to $217,538 per unit. The property, constructed in 1983 and 1985, includes amenities such as a clubhouse, heated pool, and laundry facilities.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $70,700,000
• Units: 325
• Price Per Unit: $217,538
• Buyer: Timberlane Partners
• Seller: SCS Development Co
• Brokers: Anthony Palladino, Giovanni Napoli, Nicholas Ruggiero & Philip Assouad - Institutional Property Advisors
• Market: Renton, WA
• Date of Sale: 12/18/2024

SCS Development Co. completed the sale of the Copper Ridge Apartments to Timberlane Partners, with the transaction facilitated by Institutional Property Advisors from Marcus & Millichap, representing the buyers throughout the deal.