CBRE Facilitates Sale of 202-Unit Kirkland Multifamily Community

CBRE has arranged the sale of Heronfield, a 202-unit core-plus multifamily property in Kirkland, WA, to an undisclosed buyer.

CBRE’s Eli Hanacek, Mark Washington and Kyle Yamamoto represented the seller.

“As we continue to witness robust growth and stable occupancy in Kirkland, we can anticipate significant spur in rent growth in coming years,” said Eli Hanacek, Managing Director at CBRE. “This trend reflects the city's strong market dynamics."

Heronfield, located at 11105 NE 123rd Lane, features one-, two- and three-bedroom units averaging 939 square feet. The units offer spacious floorplans with large windows. Majority of the units have been renovated and have new plank flooring, wood burning fireplaces and updated kitchens with quartz countertops. Additionally, the property has an indoor/outdoor pool, a clubhouse, a 24-hour fitness center and playground and sits adjacent to 28 acres of preserved natural land.

The community is in the Innovation Triangle with proximity to I-405, providing immediate access to the region’s prominent employers. Additionally, the 400,000-square-foot Totem Lake Village lifestyle center is a three-minute drive of the property, while Woodinville and Bellevue are a 10-minute drive and downtown Seattle is a 20-minute drive of the property.