The Uplund at Totem Lake apartments, a 409-unit, new-construction property just south of Kirkland’s Village at Totem Like, has sold for $242 million, making it the largest multifamily transaction in the city and one of the largest suburban multifamily deals in Greater Seattle, according to CBRE, which brokered the deal.

The price equates to almost $592,000 per unit for the property at 11723 N.E. 117th Court.

Eli Hanacek, Jon Hallgrimson, Mark Washington, and Kyle Yamamoto of CBRE Capital Markets in Seattle represented the sellers, American Capital Group and Artemis Real Estate Partners, CBRE said in a news release. 

The buyer was not named.

Uplund was built in 2021 and consists of two six-story buildings on 7.4 acres. The community has studio, and one-, two- and three-bedroom floorplans with an average unit size of 789 square feet.

Read more. For full article: Kirkland Apartment community sells for $242 million