Interstate Equities Corporation (IEC) recently finalized the purchase of The Marina at Martha Lake, a garden-style community in Bothell consisting of 124 units. The transaction was brokered by CBRE’s Mark Washington, Kyle Yamamoto, and Eli Hanacek and closed with an all-cash deal. IEC is currently exploring options for a GSE loan through CBRE’s debt team led by Jesse Weber, Stephen Baird, and Ryan Jameson.
Previously known as Woodstone Apartments and owned by Security Properties, this multifamily property is strategically located near Martha Lake in the thriving Bothell submarket. According to Marshall Boyd, President of IEC,”This community is ideal due to its proximity to the nearby Innovation Triangle which houses major employers in technology,bio-tech,aerospace,and manufacturing industries.”
Built in 1989 on 6.42 acres,the Marina at Martha Lake offers a variety of one-, two-,and three-bedroom units with modern amenities such as a pool spa,fintess center playground,and clubhouse.Its convenient location provides easy access to Mill Creek Town Center while also being just half an hour away from Bellevue and Downtown Seattle.This recent acquisition further solidifies Interstate Equities’ presence near Seattle.
