In a recent transaction, Essex Property Trust Inc., based in California, has purchased The Beaumont Apartments for $136.1 million. The 344-unit multifamily property is located in Woodinville and was previously owned by MG Properties who bought it for $99 million seven years ago. According to the Puget Sound Business Journal, the property includes a variety of studio, one-, and two-bedroom apartments and offers convenient access to major highways.
The assessed value of The Beaumont is approximately $107.4 million and it is situated near various shopping, dining, and entertainment options. On their website, Essex lists ownership of 59 multifamily properties in the Puget Sound region.
