CBRE Brokers $18M Sale of Seattle Community

Remi Apartments, located near Lake Union in the Eastlake neighborhood, features 34 residential units and 5,238 square feet of ground-floor retail.
Remi Apartments in Seattle

ACME Realty has purchased Remi Apartments, a 34-unit community with ground-floor retail in the Eastlake neighborhood, from an entity managed by Trimark Property Group LLC, for $17.8 million. According to public records, the former owner acquired the Seattle residential property in 2014, for $14 million.

Remi Apartments is located at 2727 Eastlake Ave. E., near Lake Union, providing easy access to downtown Seattle via Interstate 5. The one- and two-bedroom units offer private decks or patios. The building also includes a large rooftop deck for common use by residents.

The property also offers 17,821 square feet of underground parking on two stories, 31,662 square feet of living space and 5,238 square feet of retail in three, fully leased units. At the time of the sale, the occupancy rate of the apartments was 97 percent.

CBRE’s Capital Markets Multifamily Investment team, led by Directors Mark Zoffel and Kyle Yamamoto, negotiated the deal, achieving a price of $480,000 per residential unit.

Image courtesy of CBRE