Suburban Seattle Community Trades for $21M
- May 18, 2020
MJR Development has finalized the disposition of The Villas, a 39-unit townhome community in Woodinville, Wash. The Foundation Group acquired the property for $21.2 million. Berkadia facilitated the transaction on behalf of the seller. Greystone provided the new owner with a Fannie Mae acquisition loan, according to King County records.
Located at 14625 NE 145th St., the property was built in 1968. The community has two-bedroom apartments and townhomes. The property is situated on the bank of Sammamish River and has access to bicycle trails. Additionally, The Villas is 4 miles from Interstate 405 and roughly 18 miles northeast of downtown Seattle. Several shopping and dining options are within walking distance of the community.
The Berkadia team that negotiated the deal included Managing Director Kenny Dudunakis and Senior Directors David Sorensen and Ben Johnson. In April, the same brokers closed the $28 million sale of Central Pointe, a 200-unit community in Boise, Idaho. The company assisted the seller and negotiated an acquisition loan for the new owner.