logo redirect pin user minus plus fax mobile-phone office-phone data envelope globe outlook retail close line-arrow-down solid-triangle-down facebook globe2 google hamburger line-arrow-left solid-triangle-left linkedin wechat play-btn line-arrow-right arrow-right solid-triangle-right search twitter line-arrow-up solid-triangle-up calendar globe-americas globe-apac globe-emea external-link music picture paper pictures play gallery download rss-feed vcard account-loading collection external-link2 internal-link share-link icon-close2
Global
  • Global
  • United States
  • Angola
  • Argentina
  • Australia
  • Austria
  • Bahrain
  • Baltics
  • Belgium
  • Brazil
  • Bulgaria
  • Cambodia
  • Canada
  • Chile
  • Colombia
  • Czech Republic
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Greece
  • Hong Kong
  • Hungary
  • India
  • Indonesia
  • Ireland
  • Israel
  • Italy
  • Japan
  • Jordan
  • Kazakhstan
  • Kenya
  • Korea
  • Kuwait
  • Latin America
  • Luxembourg
  • Mainland China
  • Malaysia
  • Mexico
  • Morocco
  • Netherlands
  • New Zealand
  • Norway
  • Oman
  • Pakistan
  • Panama
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Romania
  • Russia
  • Saudi Arabia
  • Singapore
  • Slovakia
  • South Eastern Europe
  • Spain
  • Sweden
  • Switzerland
  • Taiwan
  • Thailand
  • Turkey
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Venezuela
  • Vietnam
Log In
  • Global Intranet
  • myCBRE
  • Services
    • Business Segments

      Advisory Services

      Global Workplace Solutions

      Real Estate Investments

      • Advisory & Transaction Services
      • Capital Markets
      • Project Management
      • Property Management
      • Valuation & Advisory Services
      • Advisory & Transaction Services | Occupier
      • Client Strategy & Consulting
      • Facilities Management
      • Project Management
      • Development Services (Trammell Crow Company)
      • Flexible Space Solutions (Hana)
      • Investment Management (CBRE Global Investors)
    • Services for Investors
      • Alternative Investments Practice
      • Forecasting & Analytics
      • Investment Banking
      • Property Management
      • Debt & Structured Finance
      • Host
      • Leasing & Advisory
      • Property Sales
      • Energy & Sustainability
      • Investment Accounting & Reporting Solutions
      • Loan Servicing
      • Valuation & Advisory
    • Services for Occupiers
      • Client Strategy and Consulting
      • Host
      • Location Incentives
      • Valuation & Advisory
      • Energy & Sustainability
      • Labor Analytics
      • Project Management
      • Workplace
      • Facilities Management
      • Leasing & Advisory
      • Space Enablement
    • Asset Types & Specialties
      • Office
      • Data Centers
      • Multifamily
      • Industrial & Logistics
      • Golf & Resort Properties
      • Omnichannel
      • Retail
      • CBRE Hotels
      • Residential
    • Industry Sectors
      • Industrial & Logistics
      • Energy, Oil & Gas
      • Life Sciences
      • Retail
      • Financial Services
      • Data Centers
      • Healthcare
  • Properties
  • Research & Insight
    • Latest Global Research & Reports
      The Way Forward
      Weekly Insights
      Reopening the World's Workplaces
      COVID Resource Center
  • People & Offices
  • About CBRE
    • Careers
      Case Studies
      Corporate Information
      Corporate Responsibility
      Executive Leadership
      Investor Relations
      Media Center
      Suppliers

Next

Press Release
CBRE Group, Inc. Named Top Real Estate Brand in Lipsey Survey for 20th Consecutive Year
  • Home
  • About CBRE
  • Media Center
  • CBRE Arranges $17.5 Million Sale of The Redwood, a Multifamily Property in Seattle, WA

CBRE Arranges $17.5 Million Sale of The Redwood, a Multifamily Property in Seattle, WA

Seattle, WA | January 29, 2019
  • Email
  • Share
  • Tweet
  • Share

CBRE Capital Markets has arranged the sale and financing of The Redwood, a newly constructed, 75-unit apartment community in Seattle’s Capitol Hill neighborhood.

Steven Chattin, Mitchell Belcher, Mark Zoffel and Jay Timpani of CBRE’s Seattle office represented the seller in the transaction, 111 21st Ave E, LLC, a subsidiary of Johnson & Carr, who also developed the property. The buyer was Wilshire Capital of El Segundo, CA. John Lo of CBRE’s Debt & Structured Finance group arranged the non-recourse, full-term interest only acquisition financing for the buyer, provided by a national non-bank lender.

“Seattle continues to command tremendous demand from out-of-state investors,” said Jay Timpani, First Vice President. “A superior product constructed to showcase the beauty of the Northwest and positioned in the heart of Seattle, The Redwood will continue to benefit from the rapidly expanding population and employment growth.”

“Seattle owners and investors are benefiting from the large and deepening pool of non-bank capital in the market,” said John Lo, Senior Vice President. “Non-traditional capital is extremely competitive for the Seattle market and can provide more attractive terms than traditional lenders for new or existing properties.”

Located at 111 21st Ave E, The Redwood takes cues from its environment, incorporating modern, Pacific Northwest-inspired features such as wood accents, custom metal fabrication and native landscaping. The property’s 75 studio apartments include exceptional unit amenities, including luxury finishes and stainless-steel appliances. The average unit size is approximately 280-square-feet (sq. ft.)–with a select few housing a loft for extra floor space. The building comes stocked for the tenants with on-site laundry, bike storage, a rooftop deck with a BBQ, and sweeping views of the Cascades and Seattle skyline.

Completed in Fall 2017, the building was 100% leased within six months, attributed to the growing base of young professionals in Seattle. With a preferred location and contemporary design, The Redwood is well-positioned to benefit from significant rent and employment growth, as Seattle continues to rapidly expand. Boasting a Walk Score® of 90, a bike score of 92 and a transit score of 70, the location is exceptional for students and professionals in the area. The Redwood is in one of the most vibrant districts in Seattle, and is surrounded by an array of grocery stores, restaurants, health services and parks, giving tenants access to Seattle’s best offerings.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
 

Media Contacts

Sara Johnston headshot
Sara Johnston
Corporate Communications, Mountain-Northwest Division
+1 303 2641912
+1 660 3499498
+1 303 6281751
  • About Us
  • Careers
  • Case Studies
  • Corporate Info
  • Corporate Responsibility
  • Investor Relations
  • Executive Team
  • Media Center
  • Contact Us
  • Global Web Privacy and Cookie Policy
  • Sitemap
  • Terms of Use
  • Our Response to SCHREMS II
  • Twitter
  • Facebook
  • LinkedIn