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Colliers Brokers Sale of 24-Unit Apartment Building near Alki Beach

beach landing

$8.9M transaction highlights desirability of high-quality value-add investments in Seattle

SEATTLE, Wash. – June 10, 2022 – Colliers is pleased to announce the successful sale of Beach Landing, a 24-unit apartment building near Seattle’s famed Alki Beach. Multifamily experts Tim McKay, Dan Chhan, Sam Wayne and Matt Kemper brokered the sale, which closed today for $8,900,000.

 

Located in the popular West Seattle neighborhood, Beach Landing is just one block away from Alki Beach, providing exceptional views and walkable access to highly regarded restaurants and shops. The property was built in 1989 and offers significant opportunity to add value through interior upgrades to modernize the units.

 

“Beach Landing represents the most significant apartment sale in the Alki Beach neighborhood in three years,” said McKay. “Not only does this signal renewed investor optimism for urban infill assets coming out of the pandemic, it also comes ahead of the reopening of the west Seattle bridge, which in itself will accelerate the growth of the entire area in 2022 and beyond.”

 

Colliers has one of the largest and most experienced teams of multifamily advisors in the commercial real estate industry, strategically located in key markets around the globe. Offering the full spectrum of services for capital markets, including buyer and seller representation, property valuation, financing and more, Colliers’ experts collaborate across sectors and geographies to advise clients on how best to maximize their investments. 

 

Contact:

Rachel Person

Marketing Manager, Pacific Northwest

Rachel.person@colliers.com

 

 

About Colliers

Colliers is a leading diversified professional services and investment management company. With operations in 65 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 26 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.6 billion ($4.0 billion including affiliates) and $46 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.


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Tim McKay

Senior Vice President

Seattle

Tim specializes in the sale and advisory services of apartment buildings and development land in the Seattle Metro Area. Tim spends countless hours gathering, sorting, analyzing and comprehending data and trends so that he can arm his clients with the best, most current knowledge available. This real-time information enables Tim the ability to support his clients so that they may make the best business decision today.

Unrelenting commitment and drive for his clients’ success helped form many long-term relationships with investors, and when you ask these clients about Tim, they use the words passionate, understanding, connected, caring and hardworking, but above all else, they will tell you that Tim always puts his clients first and they will continue to work with him for this reason.

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Dan Chhan

Senior Vice President

Seattle

Dan specializes in the sale and advisory service of apartment buildings and development land in the Seattle Metro Area. Fluent in Cantonese, Dan has been at the forefront of the business, discovering new channels to market and sell real estate in emerging markets in the United States, Pacific Rim and beyond.

Dan represents a new wave of brokerage deeply aware of market trends and economic factors that translates to actionable steps for his clients. He is committed to ensuring that each and every one of his clients is armed with the knowledge to make the best decisions.

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Sam Wayne

Senior Vice President

Seattle

Sam Wayne has been brokering and syndicating real estate investments since 2006. Since forging the partnership of McKay | Chhan | Wayne in 2015 they have sold over 4,500 units worth more than $1.0 Billion throughout the Puget Sound.

McKay | Chhan | Wayne provide full-service solutions to private and institutional multifamily investors and developers. Client focused with a reputation for dependable and professional services and an intensity of execution not available anywhere else. Their solutions-driven mindset drives analysis, brokerage and marketing efforts. With capital markets expertise, including sourcing of debt and equity, the MCW team leverages market intelligence, financial acumen and deep personal relationships to connect capital with opportunity.

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Matt Kemper

Vice President

Seattle

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