11 Capital Pays $49M for Washington Property
Berkadia closed the deal on behalf of the buyer.
Yuksel Inc. has sold Shoreline Village, a 216-unit multifamily community located in Richland, Wash., for $49 million. Berkadia closed the deal on behalf of the buyer, 11 Capital.
Shoreline Village
Located at 2555 Duportail St., the property offers one-, two- and there-bedroom floorplans averaging 928 square feet. Common-area amenities include a swimming pool, fitness center, clubhouse and playground. The units include washers and dryers, walk-in closets and private balconies.
Completed in 2003, Shoreline Village is located near Route 240 and Interstate 182, providing access to Chamna Natural Preserve and Kadlec Regional Medical Center, as well as shops and restaurants in the immediate area.
Director George Pallis, alongside Senior Managing Director Kenny Dudunakis and Managing Directors David Sorensen and Ben Johnson, all with Berkadia Seattle, represented Yuksel Inc.
Greater Seattle and its surroundings continue to be investment magnets, with more than $3.1 billion in multifamily assets trading year-to-date, according to Yardi Matrix data. In the past couple of weeks, several similar transactions took place across the metro, including the $48.5 million sale of a property in Bremerton, Wash., and the $65.2 million sale of one in Seattle.
