Suburban Seattle Apartments Fetch $66M
- Nov 02, 2020
Main Street Property Group has sold The Bond, a 139-unit luxury multifamily property in Redmond, Wash., for $66 million. The buyer, an entity affiliated with G.W. Williams Co. and First American Exchange, finalized the acquisition with a $66.1 million self-financed loan, public records show.
The Bond delivered in August 2019 following nearly two years of construction. Washington Federal Bank had backed the development with a $28.8 million project loan, according to Yardi Matrix.
The property at 6180 E. Lake Sammamish Parkway NE includes a range of one- and two-bedroom floorplans from 705 to 1,149 square feet. Twelve apartments are reserved as affordable units, and five others are operated by Zeuss Living for corporate housing. Resident amenities include a conference room, a solarium, covered parking and a private dog park. The community achieved LEED Platinum certification in March this year.
The community’s surroundings include the 684-acre Marymoor Park, a Whole Foods Market and a wide range of restaurants and shops along Redmond Way. The property is also within 5 miles of Microsoft’s global headquarters and less than half a mile from LMC Marymoor, a 450-unit luxury community that broke ground in June.