The sale of Parkside Apartments, a luxurious 664-unit community in Redmond, Washington, has been successfully completed by JLL for $286 million. The seller was a partnership between investors from Texas with previous ties to Lincoln Property Company Residential and Daiwa House Texas. The buyer was procured by Lakevision Capital.
Leading the transaction were Senior Managing Directors David Young and Corey Marx, along with Senior Director Chris Ross from JLL’s Capital Markets Investment and Sales Advisory team.
Located at 15551 NE Turing St., Parkside Apartments is part of the Esterra Park master-planned community near Microsoft Corp. Developed in 2021 on a spacious 4.5-acre plot of land, this four-building complex offers an impressive range of upscale amenities including studios as well as one- and two-bedroom options spread across five to eight floors.
According to Jason Byrne, managing member for the investment group involved in this deal: “Parkside Apartments perfectly embodies the dynamic living experience that is highly sought after in this thriving tech region.” This statement reflects both his satisfaction with how things turned out as well as his confidence about future prospects for growth within this area.
