1/8/2008

Hendricks & Partners orchestrates sale of multifamily north of Seattle

by

The Timbers at Kenmore

The Seattle office of Hendricks & Partners negotiated the sale of The Timbers at Kenmore, a 163-unit apartment community in Kenmore, Wash. The property sold for $20 million, or $122,699 per unit.

Hendricks & Partners Kenny Dudunakis represented the buyer, Longwell Company of Bellevue, Wash., and the seller, Irvine, Calif.-based Bascom Group in the transaction.

The Timbers at Kenmore is a 163 unit apartment community located at 18930 68th Ave. NE in Kenmore, Wash., a town of roughly 19,000 people on the northern banks of Lake Washington, about 14 miles north of Seattle. The complex consists of 11 two and three-story buildings with one and two-bedroom apartments. It has recently undergone renovations to the community clubhouse and unit interiors.

Address: 18930 68th Ave. NE, Kenmore, Wash.

Size: 163 units

Built: 1978

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Filed Under: Multi-Family

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