Home Finance Goodman Real Estate Spends $29.4MM to Acquire 144-Unit Greensview Apartments in Everett

Goodman Real Estate Spends $29.4MM to Acquire 144-Unit Greensview Apartments in Everett

By Jack Stubbs

In a transaction that was recently recorded, Seattle-based Goodman Real Estate Inc. on December 18th spent $29.4 million, or around $204,166 per unit, to acquire the Greensview Apartments in Everett, Snohomish County records show. The seller was Washington Greensview Apartments Associates, an entity affiliated with Austin, TX-based Glen Una Management Company Inc.

The Greensview Apartments, located at 1520 W Casino Road, sits on roughly five acres and comprises 144 multifamily units and a clubhouse, according to public documents. Greensview offers a mix of one- and two-bedroom units that range from 658 to 856 square feet. Some of the in-unit amenities available to residents include full-size washer/dryer, wood-burning fireplace, vaulted ceilings in select units, and private decks/patios, according to the property’s web site. 

Some of the community amenities available to residents at Greensview Apartments include a seasonal outdoor heated swimming pool and jacuzzi, TV lounge, fitness center and covered parking, as well as convenient access to public transportation. 

Located in the Westmont neighborhood of Everett, the complex is directly adjacent to State Route 520 and just north of Walter Hall Golf Course. Greensview is also less than two miles from the Boeing Everett Delivery Center and the recently-opened Paine-Field Airport (PAE), which has recently served to further connect Everett to the rest of Snohomish County and the wider Puget Sound region. 

The asset sits in close proximity to several other multifamily properties, some of which include the Crystal Springs Apartments, CentrePointe Greens Apartments and Shiloh Village Apartments. 

Founded in 1980, Goodman Real Estate maintains a diversified portfolio of quality commercial property investments across the U.S. and Canada, according to the company’s web site, and the company’s managed assets are valued at more than $2.5 billion. Some Goodman Real Estate’s other multifamily properties in Seattle include 80 Main, a 45-unit project on South Main Street; the 240-Unit Addison property; and the 142-unit Cadence Apartments.

According to The Registry’s reporting, Goodman Real Estate was last active in the Puget Sound region’s multifamily marketplace in December 2018, when the company spent $48.5 million, or approximately $189,453 per unit, to purchase the 256-Unit Deer Creek Apartment Homes in Puyallup from LA-based Lowe Enterprise Investors. 

Everett has seen numerous multifamily assets in Everett change hands over the last few weeks as 2019 has come to a close, with the sale of the Greensview Apartments only the most recent example. In mid-December, Berkadia announced that it had secured the $80.35 million sale of Colby Creek, a 336-unit garden-style complex, on behalf of the seller, California-based FSC Realty, LLC. The buyer was Canada-based RISE Properties Trust partnering with Aegon Real Assets US (Aegon RA).