CBRE Facilitates $59.25 Million Sale of Mid-Rise Multifamily Community in Seattle

CBRE has arranged the $59.25 million sale of Corner 63 Apartments, a 139-unit multifamily community in Seattle's Roosevelt neighborhood.

Eli Hanacek, Kyle Yamamoto and Natalie Kasper of CBRE's Multifamily team in the Pacific Northwest represented the seller, High Street Residential, the residential subsidiary of Trammell Crow Company (TCC), in the transaction.

"This transaction underscores the strong investor interest for best-in-class multifamily properties in TOD locations," said Yamamoto, senior vice president at CBRE. "Assets like Corner 63, which pair luxury amenities with immediate access to the newly expanded light rail network, continue to command a premium and draw capital from investors focused on long-term connectivity and growth."

Located at 6300 9th Ave. NE in Seattle, Corner 63 is a seven-story, mid-rise luxury apartment community completed in 2023. The property offers a mix of studio, one-bedroom and two-bedroom units. Community amenities include a rooftop terrace, fitness center, co-working lounge, dog run area and secured parking.

The property is a seven-minute walk from the Roosevelt Light Rail Station, providing direct access to downtown Seattle, the University of Washington and major employment centers throughout the region.

The sale is the highest price per square foot for a market-rate mid-rise multifamily asset since 2022, outside of the Lake Union submarket, according to CBRE Research.