Kidder Mathews has arranged the $9 million sale of Queen Anne Gardens, a 38-unit community in Seattle. Milestone Properties acquired the asset from a private investor at a 4.1 percent cap rate. Executive Vice President Dan Swanson represented the buyer in the deal. The new owner also secured acquisition financing through JPMorgan Chase Bank, according to King County records.
Located at 1250 Fifth Ave. N., the property formerly known as Crosby Queen Anne Apartments came online in 1991. Common-area amenities of the three-story building include a fireplace lounge, fitness room and rooftop terrace.
The property is roughly 2 miles northwest of downtown Seattle, in the Queen Anne neighborhood. The community is within walking distance of Queen Anne Boulevard and Seattle Center, the arts, educational, tourism and entertainment area that is also home to the Space Needle.
Last year in November, another Kidder Mathews team brokered the $17.4 million sale of a 53-unit community in Seattle’s Capitol Hill neighborhood. Executive Vice Presidents Dylan Simon and Jerrid Anderson assisted the seller in the disposition.