CBRE has arranged the $242 million sale of the Uplund, a 409-unit, newly built apartment community in Kirkland, WA. According to the firm, the sale represents the largest multifamily apartment transaction in Kirkland, and one of the largest multifamily trades in Greater Seattle history.

Eli Hanacek, Jon Hallgrimson, Mark Washington and Kyle Yamamoto with CBRE Capital Markets represented the sellers in the deal, American Capital Group and Artemis Real Estate Partners. The Uplund consists of two, six-story buildings with studio, one-, two- and three-bedroom floorplans, averaging 790 square feet. 10% of the residences are designed as affordable units.

“Uplund checked all the boxes with best-in-class finishes, a collection of amenities that exceed market standards and a location with easy access to employment centers, retail and recreation,” said Hanacek in a news release. “Kirkland’s multifamily construction pipeline is more subdued than Bellevue, WA and Redmond, WA, positioning new projects like Uplund for long-term renter demand.”

Read more. For full article: CBRE Completes Largest Multifamily Sale in Kirkland History