SEATTLE, WA – July 7, 2021 –Berkadia announced today the sales of Highlander and Cascadian, two garden-style multifamily properties in Everett, Washington. Senior Managing Director Kenny Dudunakis, Senior Directors Ben Johnson and David Sorensen and Associate Director George Pallis of Berkadia Seattle completed the $39.65 million ($161,837 per unit) in combined sales on behalf of the seller, Washington-based Sherron Associates, LLC. The buyer was California-based Auctus Capital Partners, and the deals closed on June 16.
“Both Highlander and Cascadian represent very attractive value-add opportunities in a strong Everett submarket,” said Sorensen. “The newer owners will be able capitalize on their experience in repositioning multifamily properties while the seller was able to realize sizable gains after decades of ownership. This is a great result for both the buyer and seller alike.”
Highlander is located at 2415 11th Street. The 136-unit property features one- and two-bedroom floor plans with balconies. Community amenities include a swimming pool, a clubhouse and laundry facilities.
Cascadian is a 109-unit property located at 2232 12th Street. The property features one- and two-bedroom floor plans with a balcony or patio. Community amenities include a swimming pool and a playground.
Both properties are conveniently located near Interstate 5 and the shops and restaurants along North Broadway Avenue.