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El Matador Apartments Sells for $7.4 Million

Contract_Signed

Multiple Bidders for Tukwila, WA Property Reinforces Value of Transit-Oriented Location

For the first time since its construction in 1968, the El Matador Apartments at 14828 Military Road South in Tukwila, WA traded hands. James Lee of Lee EL Matador, LLC, a local private investor, purchased the 44-unit apartment community for $7.4 million from Cederlind Real Estate, LLC. The property was listed and marketed by Colliers International’s Joe Levin, who represented the seller.

“El Matador is an excellent example of the value the investment community increasingly places on well-located properties near transit hubs,” noted Levin. “The property drew multiple bidders and sold for over list price, with all prospects appreciating the opportunity presented by its position in a dynamic, yet still affordable area central to Seattle, Bellevue and Tacoma.”

El Matador is just four blocks from the Tukwila Link Light Rail station, a few minutes from I-5, I-405 and Sea-Tac International Airport, and near major Kent Valley employers including Boeing, Costco and Group Health. It is also a short distance from Westfield Southcenter mall, the new Tukwila Justice Center, and Foster Performing Arts Center at Foster High School.

Ted Sipila of Kidder Matthews represented the buyer.

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 About Colliers International

Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn. To see the latest news on Colliers International in the Puget Sound Region, follow @CI_PugetSound on Twitter or check out the website at www.colliers.com/seattle.

For further information, please contact:

Mary Ryan, Marketing & Research Director
Colliers International
Phone: 206 223 1438
Email: mary.ryan@colliers.com