Lynnwood Apartment Complex Sells for $112M

Lynnwood’s A’Cappella Apartment Homes has been sold for $112 million.

CBRE represented owner Weidner Apartment Homes in the sale, Connect CRE reported.

Ninety-five percent occupied at the time of the sale, the 387-unit multifamily complex was built in 1989 and was recently renovated with new interior finishes and common-area improvements.

“A’Cappella’s scale and recent renovation made it a rare offering in a submarket where large, institutional-quality assets rarely trade,” CBRE’s Kyle Yamamoto — who represented the seller alongside Eli Hanacek and Natalie Kasper — was quoted as saying in the Connect CRE article. “Its pivot-point location to major employment centers, including Boeing, the Eastside, and downtown Seattle, provided buyers with confidence in the property’s long-term performance.”