MG Properties Acquires 164-Unit Woodcreek Apartments In Lynnwood Washington For $53 Million

The property involved in the transaction is the Woodcreek Apartments, a multi-family asset located at 14611 Admiralty Way in Lynnwood, WA. The property consists of 164 units and was sold for $53 million, equating to approximately $323,200 per unit. This acquisition marks an expansion of MG Properties' portfolio in the Pacific Northwest, adding a recently renovated community to their assets in the Seattle area.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $53,000,000
• Units: 164
• Price Per Unit: $323,200
• Buyer: MG Properties
• Brokerage: CBRE
• Broker Representatives: Eli Hanacek, Kyle Yamamoto & Natalie Kasper
• Market: Lynnwood, WA
• Sale Date: 08/31/2026

The transaction involved MG Properties as the buyer. CBRE acted as the broker, representing the buyer through Eli Hanacek, Kyle Yamamoto, and Natalie Kasper, facilitating the acquisition of the property to enhance their presence in the Seattle market.