Pine Forest Properties Acquires Redmond Multifamily Property For $46.5M

7705 168th Avenue Northeast in Redmond, Washington, has been sold for $46.5 million. The 102-unit multifamily property, known as Aria, features high-end finishes and is conveniently located near Anderson Park.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $46,500,000
• Units: 102
• Price per Unit: $455,882
• Buyer: Pine Forest Properties
• Seller: Aria Flats LLC
• Brokers: Giovanni Napoli, Nicholas Ruggiero, Ryan Harmon, Ryan Dinius, & Sidney Warsinske - Institutional Property Advisors
• Mortgage Broker: Ray Allen - Institutional Property Advisors

Institutional Property Advisors (IPA), a division of Marcus & Millichap, facilitated the sale and financing of the property. The transaction was completed on June 27, 2023, with Pine Forest Properties acquiring the asset from Aria Flats LLC. The brokers involved in the deal were Giovanni Napoli, Nicholas Ruggiero, Ryan Harmon, Ryan Dinius, and Sidney Warsinske from Institutional Property Advisors. Ray Allen, also from Institutional Property Advisors, acted as the mortgage broker.