Cushman & Wakefield, a leading real estate brokerage firm, recently facilitated the sale of Stratford Square Apartments in Burien, Washington. The suburban city is located just ten minutes south of Seattle. The property was acquired by a local family operator for $7.285 million and consists of 32 units spread across garden-style buildings and duplexes with townhome-style layouts.
The buyer was represented by Cushman & Wakefield’s team including Jacob Odegard, Dan Chhan, Tim McKay, Dylan Roeter and Matt Kemper while the seller was represented by Jon Breiner and Nick Hemming from Paragon Real Estate Advisors. According to Odegard: “The seller provided financing for the transaction which allowed the buyer to enter into it with lower down payment and interest expenses as they work towards stabilizing the asset.” He also added that: “The buyer is thrilled about acquiring such a high-quality property with great potential for growth.”
Stratford Square Apartments were built in 1988 at its location on 12707-12733 13th Lane SW. It offers convenient access to retail amenities as well as being only minutes away from Seattle-Tacoma International Airport.
This news originally appeared on Connect CRE website.
