SPOKANE, WA – 5D Holdings LLC purchased the Serrano and Wedgewood Park Apartments totaling 300 units in Spokane, WA. They paid a combined $17,910,000, both properties are located off Division Street in North Spokane, and the deal closed on May 4th, 2016. The previous owner was Goodman Real Estate, Inc.
Serrano, built in 1984, consists of 180 units with a blend of two and three bedroom units and an average unit size of 900 square feet spread across nine buildings. Wedgewood, located across the street, built in 1981, consists of 120 units made up of one, two, and three bedroom units with an average unit size of 750 square feet across eight buildings.
Summerfield Commercial Real Estate Services LLC represented the Seller in this transaction. The brokers involved were Greg Wendelken, Ryan Kidwell, and Robert Parmar. Summerfield would like to personally thank Goodman Real Estate and all other parties involved in this transaction.
Summerfield Commercial has offices in Seattle Washington, Portland Oregon, and opening a Phoenix Arizona office 2nd quarter of 2016.