(EDITOR’S NOTE: According to public records, the sale closed on December 22nd, and the price was $92 million, or $425,926 per unit.)
SEATTLE – Dec. 29, 2021 – CBRE announced the sale of Ambrose, a 216-unit apartment property in Bremerton, Wash., to San Francisco-based Jackson Square Properties.
CBRE’s Jon Hallgrimson, Eli Hanacek, Mark Washington and Kyle Yamamoto represented the seller, an affiliate of The Wolff Company, in the transaction.
The garden-style property, located at 4520 Bay Vista Boulevard, features one-, two- and three-bedroom homes averaging 836 sq. ft. The community also has an outdoor pool and spa. An indoor-outdoor clubhouse features a community kitchen, fitness center and co-working pods. Outdoor amenities also include a dog park and playground.
“Demand from investors outside the region continues to be strong,” said Mr. Hallgrimson. “Puget Sound leads the country with an incredible recovery and a strong future outlook with continued regional growth fueled by major expansions in tech, life sciences and infrastructure.”
The property is minutes from Puget Sound Naval Shipyard’s large employment base, and the Bremerton Fast Ferry connects area residents to downtown Seattle in 30 minutes. Seattle recently ranked second in North America for high-tech job growth in CBRE’s 2021 Tech-30 Report. The Puget Sound region added nearly 40,000 high-tech jobs in 2019 and 2020, equating to a growth rate of 21.9 percent. Only Toronto grew faster at 26.4 percent.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.