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Multifamily Picks Up: TruAmerica Buys, Berkadia Finances Seattle Properties

The Pacific Northwest has seen an upswing in activity in its multifamily market during the first quarter of 2014, with residential deals and projects taking the center stage in a market that was very focused on its office sector. This past week has seen TruAmerica Multifamily acquire a West Seattle residential complex, part of a partnership with Intercontinental Real Estate Corporation. The buyer paid a fee of $27 million for the Westhaven Apartments. The move is part of the investor’s strategy of amassing a $1 billion real estate investment portfolio by the following year.
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Multifamily Picks Up: TruAmerica Buys, Berkadia Finances Seattle Properties
Commercial Property Executive