SEATTLE, Wash. –April 20, 2022 – Colliers is pleased to announce the sale of Innsbruck Apartments in SeaTac, Washington for $6,900,000 ($222,580 per unit). The 31-unit garden style apartment community is part of a two-building portfolio. The other half of the portfolio – Julianne Apartments – sold to the same buyer for $2,550,000 on February 18th. Colliers’ multifamily experts Tim McKay, Dan Chhan, Sam Wayne, Matt Kemper and Adam Groberman handled both transactions, representing the seller and sourcing the buyer.
“Along with its sister property Juliane apartments, Innsbruck represents an excellent investment in a rapidly growing submarket,” said Wayne. “The SeaTac area has benefitted from the rise in demand for apartments outside of the city of Seattle. As the economy continues to rebound from the COVID-19 pandemic, the fact that these properties offer good proximity to jobs in both Seattle and Tacoma puts them in a great position for growth.
Located at 3223 S 160th Ave in SeaTac, Innsbruck is within walking distance of the Tukwila International Boulevard light rail station, providing easy access to downtown Seattle and the airport. The property is also just a short drive from services and amenities located at the South Center Mall.
Colliers has one of the largest and most experienced teams of multifamily advisors in the commercial real estate industry, strategically located in key markets around the globe. Offering the full spectrum of services for capital markets, including buyer and seller representation, property valuation, financing and more, Colliers’ experts collaborate across sectors and geographies to advise clients on how best to maximize their investments.
About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 65 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 26 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.6 billion ($4.0 billion including affiliates) and $46 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people.
