Waterton, a national real estate investor and operator, has acquired The Lakes Apartments in Bellevue for $103 million. This 265-unit rental community boasts proximity to several employment centers throughout the Puget Sound region and includes 29 two- and three-story garden-style buildings. Waterton acquired the 12.8 acre property with an in place loan and plans to execute a value add renovation at The Lakes.
Situated near job centers such as Seattle, Redmond, Bellevue & Kirkland; this walkable property is close to many of the technology employers in the area including Microsoft’s west campus located at NE 40th St & 148th Ave NE intersection . Additionally , specialty retail , technology & advanced manufacturing are nearby . With Link light rail station expected to be operational by 2024 , residents have access downtown Bellevue , Seattle & Seattle – Tacoma International Airport .
