Atherton-Newport Investments LLC, an Irvine, Calif.-based real estate investment firm, on Friday announced it had acquired a $114 million multifamily portfolio in the greater Seattle, Wash., region.

The portfolio consists of seven apartment communities – at a total of 1215 residential rental units – that are underperforming and will be rehabilitated and repositioned to deliver attractive investment returns to investors and to provide better rental options for Washington residents, according to a press statement.

“This Seattle portfolio acquisition marks our largest portfolio investment nationwide to date,” said Ashish Khatana, co-founder of Atherton-Newport Investments. “The fact that we have returned once again to Seattle for acquisition activity is a direct reflection on what we see as a ripe investment market for multifamily product.”

The seven communities acquired include the following:

  • Woodside Crossing Apartments – A 216-unit multifamily community located at 420 85th Place Southwest, in Everett.

  • Woodtrail Village Apartments – Consisting of 300 rental units, this apartment community is located three miles west of Interstate 5 and a half mile south of Highway 509 at 1901 SW 320th St., in Federal Way.

  • Steel Lake Apartments – A 51-unit apartment complex situated at 31220 28th Avenue South in Federal Way, adjacent to Interstate 5, offering immediate access to all transportation corridors in Washington.

  • Keeler Creek Apartments – Consisting of 100 units located at 16604 48th Ave. West, in Lynwood, this community provides immediate access to Interstates 5 and 405 and is minutes from Alderwood Mall and Beverly Elementary School.

  • Summer Mill Apartments – Located at 16520 North Road in Bothell, this 124-unit apartment complex boasts close proximity and access to Interstate 5, Highway 427 and the 405 Freeway.

  • Pacific Pointe Apartments – This 249-unit community is located at 25701 27th Place South in Kent and is located between Interstate 5 and State Route 99, offering immediate access to major transportation corridors, numerous parks and retail amenities.

  • Country Home Apartments – Located at 22440 Benson Road Southeast in Kent, this 175-unit community sits adjacent to Highway 515 with easy access to State Route 167, and is nearby many retail centers.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top