Sale of Parkside Apartments for $286 Million in Redmond, Washington

JLL’s Capital Markets division revealed today that a luxury complex of 664 units in Redmond, Washington, was negotiated for a total value of $286 million and is known as Parkside Apartments.

JLL was the firm that secured the buyer, known as Lakevision Capital, and also represented the seller, a coalition of Texas-based investors previously linked with Lincoln Property Company Residential and Daiwa House Texas.

Parkside Apartments is a luxury complex on 4.5 acres perfectly located in Esterra Park, a very central and highly sought-after area in the city of Redmond, as it hosts abundant commerce and a vibrant nightlife; additionally, it provides easy access to the neighboring city of Bellevue and the major city of Seattle, which is just 20 minutes away.

Redmond is considered a great place to live and one of the most livable small cities in the United States, due to its safety and good quality of life, as well as its parks, tech companies, schools, and cultural and recreational activities.

Built in 2021, Parkside Apartments is a luxury condominium featuring common areas such as a gym, game room, entertainment room, pet grooming salon, and two rooftop terraces with spectacular panoramic views.

Its units are equally luxurious, equipped with one and two bedrooms, modern kitchens, large private balconies, stainless steel appliances, walk-in closets, and in-unit washers and dryers.

Jason Byrne, one of the investor members, told a local media outlet: “Parkside Apartments represents the dynamic and well-connected living experience that is so desired in this burgeoning tech area, which is why we loved collaborating with Daiwa House Texas on this project and appreciate JLL’s help in facilitating this deal.”

The buyer, Lakevision Capital, is a firm founded in 2018 that invests in apartment condominiums across the country.

The seller, JLL, is a leading investment management and commercial real estate company with extensive experience and operations in over 80 countries worldwide, helping its clients manage, buy, and build hotels, residences, and all kinds of commercial and industrial properties.

Foreclosures Available:

Redmond: 5 houses available

Bellevue: 3 houses available

Seattle: 7 houses available

By Elías DaSilva | 19 de Noviembre de 2024.