Bell Partners Acquires Milehouse Multifamily In Redmond WA For $78.32M From UDR Inc

The asset involved in this transaction is a multifamily property known as Milehouse, located at 8300 160th Avenue Northeast in Redmond, WA. The property consists of 160 units and was sold for a total price of $78,320,000, translating to approximately $489,500 per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $78,320,000
• Units: 160
• Price Per Unit: $489,500
• Buyer: Bell Partners
• Seller: UDR Inc.
• Market: Redmond, WA
• Previous Sale Price by Seller: $70,200,000
• Previous Purchase Year: 2017

Key individuals in this transaction include the buyer, Bell Partners, a firm specializing in multifamily investments, and the seller, UDR Inc., a real estate investment trust focused on multifamily properties. This acquisition marks a significant investment by Bell Partners in the Redmond market.