SEATTLE, Wash. – 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.
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.