Lake Washington Partners LLC, a Puget Sound-based, family-owned commercial real estate investor and developer, has entered the multifamily market with the establishment of its Refound Residential brand.
Lake Washington Partners acquired two Seattle multifamily properties in May for $45.4 million, the Union Park Apartments and St. Theodore on Roosevelt, marking the company’s sixth and seventh multifamily assets in its growing portfolio.
“Refound Residential does more than just add a new asset class to our portfolio – by employing the adaptive reuse model, it preserves and enhances existing housing stock, which reduces our environmental impact while giving our future residents everything needed to suit today’s modern lifestyle,” said Jordan Lott, President of Lake Washington Partners.
During the first phase of its acquisition strategy, Refound Residential purchased five assets, and now, the newly acquired Union Park at 1310 Minor Avenue adds 84 apartment homes to the company’s portfolio.
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