Home Finance G.W. Williams Co. Spends $66MM to Acquire The Bond Redmond

G.W. Williams Co. Spends $66MM to Acquire The Bond Redmond

G.W. Williams Co., The Bond Redmond, Redmond, Turning Point Realty Advisors, Essex Property Group,
Courtesy of The Bond Redmond

By Meghan Hall

San Mateo, Calif.-based G.W. Williams Co. has purchased another apartment asset in Redmond, just several months after solidifying another deal that would expand its Puget Sound presence. In a transaction that closed on October 30th, G.W. Williams acquired The Bond Redmond for $66 million, or about $474,820 per unit. The seller, according to public documents, was Kirkland-based MainStreet Property Group LLC.

The asset is located at 6180 E. Lake Sammamish Parkway NE. The 139-unit luxury apartment complex was recently completed in 2019 and features a mix of urban one-bedrooms, one-bedroom, one-bedroom plus den and two-bedroom units. Square footage per residence ranges in size from about 729 square feet to 1,150 square feet. Units are equipped with stainless steel appliances, quartz countertops, keyless entry and more.

Community amenities include a lobby with lounge area, coffee bar and conference room, a solarium, fitness amenities and lounge. A private dog park and outdoor space, which includes firepits, are also available to residents.

In July, G.W. Williams purchased the Delano Apartments, also located in Redmond, for $51.5 million, or about $408,000 per unit. The seller was Essex Property Group. The purchase continued to expand on the firm’s portfolio within the Puget Sound, and Redmond was highlighted in particular as a target market.

“The G.W. Williams Company…[was] actively looking to find additional opportunities,” explained Matthew Balkman, of Turning Point Realty Advisors LLC, at the time. “This was a property that was in a market they wanted to be in.”

In July of 2015, G.W. Williams bought the Peloton Apartments from Grosvenor Americas for $43 million, which Grosvenor originally purchased in 2007 for $28.9 million. To date, G.W. Williams has holdings across California, in the Phoenix metro region and Seattle, with plans to expand into several new regions. The family-owned firm, founded in 1924, targets a variety of asset classes, including apartment communities, industrial, commercial and office.