Colliers Facilitates Sale of Kinwood Townhomes in Lacey, Washington
Colliers has brokered the sale of Kinwood Townhomes, a 46-unit multifamily community located at 6802–6853 5th Ct. SE in Lacey, Washington.
San Francisco–based real estate investment firm Glencrest Group acquired the property from Jackson Homes. The transaction, priced at $281,521 per unit, sets a high benchmark for multifamily property deals in Thurston County. Chris Hardman, Senior Vice President at Colliers, and Drew Feldman, Associate, represented both parties in the sale.
“Out-of-state capital continues to pursue opportunities in well-located Pacific Northwest markets, underscoring the region’s long-term investment appeal,” said Hardman.
Developed in 2004 by Jackson Homes, this marks the first time the property has changed hands since its completion. Kinwood Townhomes consists entirely of large built-to-rent duplexes, offering two-, three-, and four-bedroom floor plans.
“As long-term investors, we were drawn to Kinwood Townhomes because of its unique built-to-rent configuration and strong rental demand in the Olympia-Lacey market,” said John Adair, Managing Partner at Glencrest Group.
