Home Finance Berkadia Completes $58MM Sale of Multifamily Property in Lynnwood

Berkadia Completes $58MM Sale of Multifamily Property in Lynnwood

Berkadia, Lynnwood, Seattle, Goodman Real Estate, FSC Realty, Mill Creek, Hauge Homestead Park
Image courtesy of www.liveataltia.com

SEATTLE (April 2, 2019) — Berkadia today announced the $58 million sale of Altia, a 230-unit multifamily garden-style property in Lynnwood, Washington. Senior Managing Director Kenny Dudunakis and Senior Directors David Sorensen and Ben Johnson of Berkadia’s Seattle office completed the sale on behalf of the seller, Seattle-based Goodman Real Estate. The buyer was California-based FSC Realty, LLC, and the deal closed on March 26.“

Altia is well positioned in South Snohomish county along the path of growth,” said Johnson. “The Lynnwood and Mill Creek submarkets have seen extremely strong performance over the past 24 months that we anticipate to continue.”

“Altia’s diverse unit mix and relatively recent construction makes it a very desirable asset and we have no doubt that the buyer will do well with this investment going forward,” added Sorensen.

Located at 16520 Larch Way, the property features one-, two- and three-bedroom floor plans with walk-in closets, double pane windows and stainless-steel appliances. Community amenities include a fitness center, a pool, a playground, a barbecue area and a sundeck. Residents are also afforded convenient access to Hauge Homestead Park and the restaurants and shops along 164th Street SW.