Updated Sep 21, 2026
Taylor Morrison Acquires 3.42 Acres For Townhome Development From MainStreet Property Group For $27M
12631 Northeast 85th Street
$27,000,000
Building Size
—
Asset Type
Retail
Closing
Sep 18, 2026
About this deal
AI
The asset involved in this transaction is a vacant 3.42-acre parcel located at 12631 Northeast 85th Street in Kirkland, WA. The transaction was executed for a total amount of $27,000,000, representing the sale of the property. This retail land is poised for future development.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $27,000,000
- Buyer: Taylor Morrison
- Seller: MainStreet Property Group
- Address: 12631 Northeast 85th Street
- Market: Kirkland, WA
- Acres: 3.42
Taylor Morrison will utilize the acquired land to develop Rose 85, a townhome project that is scheduled for completion by late 2027. MainStreet Property Group facilitated the sale of this parcel, which is a notable addition to the company's portfolio.
On the Map
$27,000,000
Retail
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Kirkland Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93