**Issaquah Apartment Complex Sells for $135.5 Million in Major Deal**
Timbers at Issaquah Ridge, a prominent apartment complex located in Issaquah, Washington, has been sold for $135.5 million, marking one of the largest real estate transactions in King County so far this year.
The 337-unit property, located at 23425 SE Black Nugget Road, was acquired by New York-based Sterling Investors. The seller was Denver-based Simpson Housing.
Timbers at Issaquah Ridge features a mix of one-, two-, three-, and four-bedroom apartments and townhomes. Each unit includes walk-in closets, in-unit washers and dryers, and private patios or balconies. Community amenities include an upgraded resident lounge, a playground, and other recreation spaces designed for residents’ comfort and convenience.
Originally developed by Bellevue-based Wakefield Homes, the 34-building, 16.5-acre walk-up complex was constructed in two phases in 2000 and 2001. Simpson Housing acquired the property in those early years, investing a total of $22.5 million across both transactions. In addition to Timbers at Issaquah Ridge, Simpson Housing owns five other apartment communities throughout the Puget Sound region.
