Cushman & Wakefield has brokered the sale of a multifamily portfolio consisting of two properties totaling 49 apartment units in Everett, Washington.
The buyer was represented by Cushman & Wakefield’s Byron Rosen, Tim McKay, Jacob Odegard, Dan Chhan, Matt Kemper, and Dylan Roeter. The northern Seattle portfolio consists of the Magenta Apartments and Fairway Apartments, located on the grounds of the Everett Golf & Country Club.
Bellevue-based DSB Investments, which specializes in the acquisition, rehabilitation, and management of apartment communities in and around the greater Seattle area, purchased the two-asset portfolio from Williams Investments II LLC for $7 million.
“Each property fits right into DSB’s wheelhouse of acquiring and then being able to increase value through strategic renovation,” said Rosen. “Snohomish County stands as a preferred area for multifamily investors due to strong fundamentals.”
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