Keen-Summit Capital Partners LLC, a reputable real estate brokerage and investment banking firm based in New York, has been selected to oversee the sale of a multi-family real estate portfolio. The portfolio includes four apartment complexes owned by Harbor Custom Development, which is looking to liquidate its assets as part of its Chapter 11 bankruptcy proceedings.
According to Matthew Bordwin, Principal and Co-President at Keen-Summit Capital Partners, this premier multi-family portfolio presents an excellent opportunity for investors due to the growing real estate market in the Pacific Northwest region.
The properties included in this portfolio are Belfair View Apartments with 228 units currently under development. Phase 1 was completed in February 2023 with occupancy rate at 82 out of total 126 units. Phase two will add another102 units upon completion.
Bridgeview Trail Apartments located in Port Orchard consists of138 Units with horizontal construction already finished. Meadowscape Apartments situated Olympia were completed backin2023and offer177 Unitswith current occupancy rate standing at21 percent.Pacific Ridge Apartments located Tacoma were finalized during year2022and have80 occupiedunits outof total80 apartments availablefor rent.
This announcement marks the entry into bankruptcy proceedings for these four Seattle-area multifamily complexes.
