Home News Releases Berkadia Completes $21MM Sale of Multifamily Property Outside of Seattle

Berkadia Completes $21MM Sale of Multifamily Property Outside of Seattle

SEATTLE (June 10, 2019) — Berkadia announced today the $21 million sale of The 205 Apartments, a garden-style multifamily property in Shoreline, Washington. Senior Managing Director Kenny Dudunakis and Senior Directors David Sorensen and Ben Johnson of Berkadia’s Seattle office completed sale on behalf of the seller, Seattle-based Goodman Real Estate. The buyer was a private investor based in California, and the deal closed on May 31.

“The 205 Apartments represented a great opportunity for the buyer to acquire a newly constructed podium building with some of the best amenities in a very attractive submarket,” said Sorensen. “In recent years, Shoreline has seen a significant increase in investor interest, and the fact that The 205 sits so close to future light rail stops should only make this property more desirable in the years to come.”

Built in 2018, The 205 Apartments is located at 1795 NE 205th St. and features 72 units of studio and one-bedroom floor plans. The property features a fitness room, a community lounge and bike racks and storage. In the convenient Shoreline neighborhood of northern Seattle, The 205 affords convenient access to Ballinger Village Shopping Center, Lake Ballinger and two soon-to-be built LINK light rail stations.