SEATTLE – August 28, 2020 – Berkadia today announced the sale of Flats at Interbay, a 117-unit garden-style multifamily property in Seattle. Senior Managing Director Kenny Dudunakis and Senior Directors David Sorensen and Ben Johnson of Berkadia’s Seattle office completed the sale on behalf of the seller, an undisclosed entity. The buyer was Seattle-based Rise Properties Trust, and the deal closed on August 18.
“The Flats at Interbay is a very attractive property that sits between some of the most desirable residential neighborhoods in Seattle. With its proximity to the downtown core as well as the new Expedia headquarters, we believe this area will only become more desirable over time,” said Sorensen. “Additionally, as more renters are working from home during the pandemic, we believe the concentration of various one-bedroom floor plans will also serve the property well in the near future and beyond.”
Located at 3036 16th Ave. W, Flats at Interbay features one-bedroom floor plans with full-size washers and dryers and hardwood floors. Community amenities include a fitness center, a rooftop patio with grilling stations and a clubhouse. The property affords convenient access to Interbay Athletic Complex and Seattle Pacific University.