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9501 244th St Sw

Waterton Purchases 386-Unit Brackett Apartments In Edmonds From Intercontinental Real Estate Corp And TruAmerica Multifamily For $124M
SOLDMultiFamily

Waterton Purchases 386-Unit Brackett Apartments In Edmonds From Intercontinental Real Estate Corp And TruAmerica Multifamily For $124M

9501 244th St Sw

$124,000,000

Building Size

Asset Type

MultiFamily

Closing

Jun 16, 2025

AI

The Brackett Apartments, a multifamily asset consisting of 386 units, were sold for $124 million. Located at 9501 244th St Sw in Edmonds, WA, the property reflects a price per unit of approximately $321,244.

Summary of transaction details:

This transaction involved Waterton acquiring the property from a partnership of Intercontinental Real Estate Corp and TruAmerica Multifamily, facilitated by the brokerage team from CBRE, consisting of four brokers who played distinct roles in the deal.

Players

Eli Hanacek

CBRE

Broker

$1.8B

vol

21 deals

Broker
CBRE
CBREBrokerage
Waterton
WatertonBuyer

Edmonds MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.13%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93