Local Housing Authority Pays $78M for Seattle-Area Community
The developer completed the second stage of the property's construction last year.
The Housing Authority of Snohomish County has acquired Allegro Lynnwood, a 240-unit community in Lynnwood, Wash., for $77.5 million. Developer Integral Northwest Corp. sold the asset in a transaction arranged by Cushman & Wakefield.
Last month, the buyer sold $78.4 million in Series 2026 revenue bonds to finance the purchase of the property, Market Screener reported at the time.
Cushman & Wakefield Managing Directors Tim McKay and Dan Chhan, together with Senior Director Matt Kemper, Director Jacob Odegard, Vice Chairman David Karson, Executive Managing Director Chris Moyer and Senior Associates Dylan Roeter and Byron Rosen represented the seller and procured the buyer in the transaction.
A recently completed community
Allegro Lynnwood came online in two stages, between 2019 and 2025. The community consists of eight buildings, three to five stories high, and features units with studio and one- and two-bedroom layouts. The residences range in size from 469 to 1,136 square feet. Shared amenities include a fitness center, a clubhouse, coworking spaces, a dog park and an underground parking area.
Located at 16525-16605 Ash Way, Allegro Lynnwood is just off Interstate 5. Other major thoroughfares in the area include Interstate 405 and Washington state routes 99 and 525, which connect the property with downtown Seattle, some 20 miles south. The community is across the road from several retail and dining options, including Walmart, Domino’s Pizza and Panda Express.
Seattle multifamily sales surge
The multifamily market in Seattle saw more than $4.7 billion in investment sales over the course of 2025, with 91 properties trading at an average per unit price of $326,240, according to Yardi Matrix information. This was more than double than the figure recorded in 2024, when the metro registered $2.3 billion in sales, with 51 assets changing hands at an average per unit price of $317,323.
In terms of multifamily construction, Seattle recorded 73 properties underway as of February 2026, set to add more than 15,000 units to the metro, the same data provider shows. Out of the total number, 4,306 are market rate apartments across 27 projects.
