Home Finance 61-Unit Marysville Apartment Community Trades for $15.5MM

61-Unit Marysville Apartment Community Trades for $15.5MM

Marysville, Snohomish, Westlake Associates, Seattle, Timberlane Partners, 11 Capital, Puget Sound, Quildceda Gardens Apartments

Marysville, WA, 12/10/2021 – Top producing multifamily team at Westlake Associates, led by Tyler Smith, Joe Kinkopf,  Steve Fischer, and Travis Kannier, have successfully closed the Quilceda Gardens  Apartments on December 10th. This 61-unit apartment complex traded for $15,500,000,  or $254,098 per unit. The selling group was Seattle based, Timberlane Partners, led by  Dave Enslow and John Chaffetz. The buyer was 11 Capital based out of Kirkland, WA. 

The asset was marketed unpriced and generated offers from groups residing all over the  Western United States. With its large units and suburban location, the property situates  well in a climate of growing tenant demand for large suburban townhome units.  Timberlane Partners have transacted over $900M in assets and is active in several  Western US markets. 11 Capital has completed over 100 transactions of multifamily and  self-storage projects throughout the country. 

Westlake Associates, Inc. is the premier provider of commercial real estate brokerage  services in the Puget Sound Region. Since 1975, the company has built a strong  foundation of experience in Investment Property Sales, Commercial Leasing, Property  Management, and comprehensive real estate services. As of December 2021, Westlake  Associates, Inc. has closed over 127 transactions in 2021 so far, with a sales and lease  volume of approximately $217 million. With an unparalleled knowledge of the Puget  Sound market, Westlake brokers continue to lead the industry in successful closings and  client satisfaction.