As we draw to a close of 2016, timing is perfect to gauge the market, assess the past 12 months and make plans for the coming year. Entering December 2016 marks 90 months since emerging from the Great Recession; such a milestone demands reflection.
The current period of economic expansion marks one of the longest in measured history. What does that mean?
Trees don’t grow to the sky, yet opportunity abounds in all markets. Now is the time for expertise, thoughtful economic pursuits and capitalizing on unique opportunities. The punchline, work with experts and study the market carefully.
In the coming months we will release a series of new market research and provide ample opportunity to assist clients in the market. We look forward to the opportunities 2017 will assuredly bring. Please give us a call to turn Our Expertise into your Profit!
Record Setting Sales
The sale of East Howe Steps, a 96-unit mixed use building in Eastlake, set a record of $730 per net rentable square foot – setting a new pricing benchmark for a pre-sale of an apartment building in the region. A special thanks to Bender Equities, the buyer, and developer Daly Partners for developing one of the most unique and bespoke buildings in all of Seattle!
Opportunities along Seattle’s vibrant and rapidly evolving waterfront are rare. A special thanks to our client, Goodman Real Estate, for developing a true jewel-box asset and entrusting the SMT to put together a revolutionary and undeniably effective marketing and sales campaign – www.Buy80Main.com. The sale of this 45-unit, boutique building set a record in Pioneer Square for selling at $447,000 per unit and nearly $700 per net rentable square foot!
We sell institutionally sized value-add apartments too! Sunset View is a 240 unit property located on the western-edge of Renton, minutes from I-5. Financed transactions do not get any more complicated and this one. This sale marks the first-of-its-kind Fannie Mae “Sharia Compliant” loan assumption, coupled with a supplemental loan. Special thanks to our seller-client, Investors Management Group (IMG) and the buyer, The Meter Group.
Marketing development land hasn’t experienced innovation in decades – if at all. The Seattle Multifamily Team’s innovative web-based, video marketing set a new standard with the sale of this property – www.DevelopQueenAnne.com. The result, a market leading price of $425 per land square foot for completely raw NC3-65 land closed in 51 days!
Want to Learn where the Market is Headed?
On December 14, 2016 I am moderating Bisnow’s “Seattle Multifamily: High-Rise Projects Changing the Cityscape”.
Would you like to know more about us? CLICK HERE TO LEARN MORE ABOUT THE TEAM
Understanding both current and future market dynamics is critically important in positioning both your assets and your capital for optimum returns. Our apartment investment sales team, comprised of five highly qualified professionals specializes in assisting apartment investors in maximizing returns.
We focus on representing apartment developers and buyers and sellers of apartment buildings from 5 units to 500 units. Please give me a call to discuss how we can turn our expertise into your profit. – Dylan