News
GREYSTAR BUYS MULTIFAMILY
December 19, 2012
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| Charleston, SC-based Greystar has acquired its first investment in Seattle, the 516-unit The Mill at Mill Creek from an institutional owner for just north of $70M, sources say. We're also told this was the largest multifamily sale in Snohomish County in 2011 (but just announced). The property, which is comprised of 29 two- and three-story buildings and one clubhouse, was built in 1985, received $6M renovations in '09 and is now 97% occupied. Greystar?s Kevin Kaberna says his firm will continue to look for other investment opportunities in the Seattle area. JLL managing director David Young and VPs Seth Heikkila and Corey Marx led the team on the sale, and executive managing direct Tom Fish, managing director Faron Thompson, and VP Catherine Justice led the financing efforts. |
