Pacific Urban Buys Seattle Community for $112M
The property previously changed hands 30 years ago for $16 million.
Weidner Apartment Homes has sold A’Capella Apartment Homes, a 387-unit community in Lynnwood, Wash., for $112 million. Pacific Urban Investors acquired the asset, according to The Registry. CBRE represented the seller.
Weidner had purchased the property in 1996 for $16 million, or approximately $41,344 per unit, according to Yardi Matrix information.
Completed in 1989 and previously known as Larch Alderwood, A’Capella occupies nearly 17 acres at 15001 35th Ave. W., just off Washington State Route 525 and near Pacific Highway. Downtown Seattle is roughly 21 miles south, via Interstate 5.
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The property comprises 37 two- and three-story buildings with one-, two- and three-bedroom apartments ranging from 700 to 1,070 square feet. All units feature washers and dryers, fireplaces and microwaves, while select apartments also have private balconies or patios.
Amenities at the pet-friendly community include a fitness center, clubhouse, basketball court, playground, movie theater, dog park and two swimming pools. The property also has nearly 450 ground-level parking spaces.
A’Capella recently underwent renovations that included upgraded unit interiors and improvements to the common areas. The community was 95 percent leased at the time of sale.
CBRE Executive Vice President Kyle Yamamoto, Vice Chairman & Managing Director Eli Hanacek and Investment Sales Manager Natalie Kasper represented Weidner.
Seattle sales volume drops
As of May 2026, Seattle’s multifamily transaction activity reached $410 million, down sharply from $1.4 billion during the same period last year, according to a Yardi Matrix report. The 2025 volume reached $4.8 billion, surpassing the yearly average of 2021 and 2022, when sales amounted to a combined $9 billion.
During the 12 months ending in May, 17 Seattle submarkets recorded more than $100 million in multifamily sales. Belltown, Wash., led with $664 million, followed by Kent, Wash., with $261 million and Redmond, Wash., with $254 million.
In Lynnwood, Yardi Matrix tracks more than 70 multifamily properties located within a 3-mile radius of A’Capella, totaling nearly 15,000 units. Only four communities changed hands in the area during the first five months of the year. They include the 114-unit Allegro Lynnwood, the 126-unit Allegro Lynnwood Phase II, the 120-unit Duet and the 108-unit Latitude.
