Bay Area LLC Acquires Multifamily In Redmond, WA For $79M

The multifamily property located at 7001 Old Redmond Rd in Redmond, WA has been sold in a closed transaction. The property consists of 192 units, with a price per unit (PPU) of $411,458. The sale took place on October 3, 2022, with Bay Area LLC acquiring the property from Gerson Bakar. The total sale price for the transaction was $79,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $79,000,000
• Address: 7001 Old Redmond Rd
• Market: Redmond, WA
• Buyer: Bay Area LLC
• Seller: Gerson Bakar
• Units: 192
• Price Per Unit: $411,458

This transaction involved the buyer Bay Area LLC and the seller Gerson Bakar. Both parties came to an agreement, resulting in a successful sale of the multifamily property. The property's location in Redmond, WA, further adds to its appeal and potential investment value. The negotiation process between the buyer and seller culminated in a sale price of $79,000,000, reflecting the market demand and value of the property.