CBRE has arranged the sale of Langara, a 134-unit garden-style apartment and townhome community in Issaquah, Washington, for $55.1 million. The multifamily property, built in 2001, was sold by JB Matteson, Inc., with CBRE acting as the exclusive representative for the seller. The buyer was not disclosed.
Located in Issaquah, Langara consists of 20 residential buildings spread across 9.81 acres, resulting in a low-density layout of approximately 13.6 units per acre. The community is described as a garden-style apartment and townhome property, positioning it within the suburban multifamily segment of the market.
CBRE’s Pacific Northwest Multifamily team led the marketing and sale process for the seller. The team included Kyle Yamamoto, Eli Hanacek, Jordan Louie, and Natalie Kasper, who collectively represented JB Matteson, Inc. in the transaction. CBRE is noted as having arranged the sale and represented the seller, indicating a brokered investment sale assignment.
Commenting on the transaction, Yamamoto described Issaquah as one of the most supply-constrained and affluent submarkets in the Pacific Northwest. He noted that every unit at Langara is primed for renovation, highlighting potential value-add opportunities at the property. According to Yamamoto, the combination of limited supply, a high-income renter base, and clear renovation upside attracted a deep pool of well-capitalized bidders and contributed to a highly competitive process for the client.
Langara benefits from regional connectivity, sitting about five minutes from Interstate 90. From the property, drive times are reported as less than 25 minutes to Bellevue, downtown Seattle, and Redmond. The community is also located roughly four minutes from Costco’s global headquarters, underscoring access to a major regional employment hub.
The sale of Langara reflects investor interest in well-located, low-density multifamily communities in affluent and supply-constrained suburban submarkets within the broader Pacific Northwest region. The transaction also illustrates ongoing demand for assets with identifiable renovation potential and exposure to high-income renter demand.
