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:
- Property Type: Multifamily
- Transaction Amount: $124,000,000
- Units: 386
- Address: 9501 244th St Sw
- Market: Edmonds, WA
- Buyer: Waterton
- Seller: Intercontinental Real Estate Corp & TruAmerica Multifamily
- Brokers: Eli Hanacek, Kyle Yamamoto, Mark Washington & Natalie Kasper - CBRE
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
Edmonds MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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