Home Finance Jackson Square Properties Buys 360-Unit Radiate Apartments in Redmond for $125MM

Jackson Square Properties Buys 360-Unit Radiate Apartments in Redmond for $125MM

JLL, Radiate Apartments, Redmond, Fairfield Residential, Jackson Square Properties, Seattle, Bellevue, Redmond Town Center, Puget Sound

JLL Capital Markets closed the sale of the 360-unit, luxury-grade, Radiate Apartments, in Redmond, Washington

SEATTLE, Aug. 17, 2023 – JLL Capital Markets announced today that it has closed the $125 million (approximately $347,222 per unit) sale of Radiate Apartments, a 360-unit, luxury-grade multi-housing community located in Redmond, Washington.

JLL represented the seller, Fairfield Residential, and procured the buyer, Jackson Square Properties.

Built in 2021, Radiate Apartments features studio, one-bedroom, and two-bedroom units with stainless steel appliances, quartz countertops, full-size washer and dryer and wood-style plank flooring. Community amenities include an outdoor terrace, a complimentary coffee bar, a resident social lounge, a demonstration kitchen, a game room, a state-of-the-art fitness center and a co-working lounge.

Located at 15808 Bear Creek Parkway, Radiate Apartments is situated in downtown Redmond, part of the Seattle MSA’s Eastside. The property is only 20 minutes from Seattle’s urban core and 10 minutes from downtown Bellevue. The property offers direct access to the Redmond Central Connector trail, which will connect to the future Downton Redmond Light Rail Extension, and is proximate to the current Redmond Transit Center and SR-520. Residents are within a 10 minute commute to the world’s largest tech companies located in Redmond and downtown Bellevue. Additionally, there is approximately 1.9 million square feet of retail, restaurant and entertainment venues within a half-mile radius of the property. The premier, resort-style outdoors shopping center, Redmond Town Center, is a five-minute walk from the community.

The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Directors David Young, Corey Marx and Ira Virden, Senior Directors Chris Ross and Jordan Louie and Directors Michael Lyford and Reed Curtis.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.