$125M sale of newly built multi-housing community in Redmond closes
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 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.
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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 105,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.