Colliers recently finalized the sale of Fern Ridge, a 99-unit apartment complex in Olympia, Washington. The property, built in 1994 and featuring one-, two- and three-bedroom layouts averaging around 775 square feet per unit, was sold by Transpacific Investments to Glencrest Group.
The Colliers PNW team – comprised of Casey Winkler, Sean Worl and Ken Verbeck – expertly represented both the seller and buyer in this transaction. According to Worl: “This deal showcases the return of attractive value-add opportunities for multifamily investments despite market volatility and increasing interest rates.”
Fern Ridge boasts a prime location near numerous shopping, dining and entertainment options including Capital Mall. Additionally,the property is just a short ten-minute drive from the Washington State Capitol building.
This recent $17 million sale by Colliers highlights their continued success in navigating competitive real estate markets with expertise.
