Case Studies / Highland Green
Chaotic market doesn't hinder interest in South Puget Sound
- Fully marketed listing received 12 offers
- $245,000 per unit for value-add condition in Kent
The debt markets had just begun to shift as we prepared to bring Highland Green to market. As interest rates skyrocketed, we were challenged the keep buyers’ interest.
What we did
We ran a full marketing process and kept steady with our pricing guidance cap rate in the mid-4% range. By keeping investors engaged, we secured 20 property tours which resulted in 12 offers. Our Seller understood how important choosing a Buyer with experience was going to be with dramatically shifting market conditions. We worked with our Seller to select the Buyer who was most likely to have a successful transaction.
The Buyer performed and successfully closed at a 4.6% cap rate. The Highland Green sale metrics, 12 offers in-hand and a price per unit at $245,000, proves that Buyers remain interested in the South Puget Sound.