10/9/2007

CBRE settles sale of suburban Seattle apartment complex

by

Carriages at Fairwood Downs Apartments

Mr. Bosl

Mr. Hallgrimson

BlackRock Realty Advisors sold the 400 unit Carriages at Fairwood Downs Apartments in Renton, Wash., for $63.25 million to Berkshire Income Realty Inc.

Black Rock was represented by CB Richard Ellis Seattle's senior vice president Frank Bosl and executive vice president Jon Hallgrimson.

A former attorney, Mr. Bosl achieved the position of first vice president in 2004.

Mr. Hallgrimson was named executive vice president in 2005 after being the top broker for CBRE's regional office from 1997-2000 and again in 2004.

Situated at 15030 SE 179th St. in Renton, a town of about 60,000 people 14 miles south of Seattle, the Carriages at Fairwood Downs feature 76 one-bedroom, one bath units, 128 two-bedroom, two bath units, 92 two-bedroom, two bath townhomes and 104 three-bedroom, three bath townhomes.

They range in size from 772 to 1,475 square feet.

Berkshire Income Realty is a real estate investment trust that acquires, rehabs and operates multi-family properties across the U.S.

The REIT is listed on the American Stock Exchange under the ticker BIR.PA.

Address: 5030 SE 179th St., Renton, Wash.

Size: 400 units

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Filed Under: Multi-Family

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