$33M portfolio sale signals ongoing investor confidence in submarket
Seattle, WA – July 21, 2022 – Colliers today announced the successful sale of Campus Apartments and University Manor, two apartment buildings located in Seattle’s highly desirable University District. The two properties offer a total of 119 units along NE 43rd Street and NE Brooklyn Avenue. Multifamily experts Tim McKay, Dan Chhan, Sam Wayne and Matt Kemper brought the buyer and seller together in the off-market transaction, which closed today for a combined $33,000,000.
Campus Apartments features 39 units, garnering $9,000,000 in today’s sale. University Manor offers 80 units and sold for $24,000,0000. Located at 4210 Brooklyn Avenue NE and 1305 NE 43rd Street, respectively, both properties are within walking distance of the University of Washington. They are also adjacent to the University District light rail station, offering excellent access to employment opportunities in downtown Seattle and beyond.
“These two properties represent an excellent investment in one of Seattle’s hottest submarkets,” said Wayne. “Demand for housing in the University District shows no signs of slowing down, driven by both growing enrollment at the University of Washington, and by significant multi-sector development in the area.”
Investor interest in the University District has grown rapidly over the last several years across all sectors. The submarket is becoming one of the city’s key innovation districts with multiple Class A office, healthcare and research facilities. The area also features an abundance of retail, dining and entertainment amenities.
Allison + Partners for Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $77 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.