Seattle-Area Asset Commands $125M

Located in Redmond, Wash., the property came online two years ago.

 Radiate Apartments

Jackson Square Properties acquired Radiate Apartments in Redmond, Wash., for $125 million. Image courtesy of JLL Capital Markets

Jackson Square Properties has acquired Radiate Apartments, a luxury community in the Seattle suburbs, from Fairfield Residential for $125 million. Built two years ago, the 360-unit property is located in Redmond, Wash. JLL Capital Markets represented the seller and procured the buyer.

Situated at 15808 Bear Creek Parkway, Radiate Apartments is a six-story, elevator-served frame apartment building offering studio, one- and two-bedroom residences.

Features and finishes of the apartments include above-standard ceiling height, wood-style plank flooring, stainless steel appliances, quartz countertops and private balconies and patios in select units. A demonstration kitchen is among the higher-profile common-area amenities.

Prime location

Located in downtown Redmond, Radiate Apartments is just 20 minutes from the urban core of Seattle, and 10 minutes from downtown Bellevue. Residents benefit from being near the current Redmond Transit Center and State Road 520, and from direct access to the Redmond Central Connector Trail, which will connect to the future Downtown Redmond Light Rail Extension.

Major technology companies are within a 10-minute drive in Redmond and downtown Bellevue. Shopping, dining and nightlife establishments are also located nearby. Shopping center, Redmond Town Center is within walking distance.

JLL active on West Coast

The JLL Capital Markets Investment Sales and Advisory team was headed by Senior Managing Directors David Young, Corey Marx and Ira Virden. Senior Directors Chris Ross and Jordan Louis and Directors Michael Lyford and Reed Curtis also participated. Last month, working on behalf of Mosaic Investment Partners, JLL Capital Markets secured financing for student housing community USC Expo in Los Angeles, near the University of Southern California.

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