Interstate Equities Corporation (IEC), a vertically integrated real estate investment and management firm specializing in multifamily properties throughout California and the Seattle area, has acquired the mResidences Portfolio, a four-property, 574-unit multifamily portfolio spanning Silicon Valley and Seattle markets for $272 million. The deal was completed in a joint venture with PGIM.
Three of the assets are located within California, specifically the cities of Mountain View, Redwood City and Sunnyvale. The fourth asset is in South Lake Union, a thriving tech hub in Seattle, Wash.
The portfolio delivers immediate scale in markets bolstered by global technology employers such as Apple, Meta and Amazon. These employment hubs continue to attract highly skilled workforces and support sustained rental housing demand.
“This acquisition reflects a disciplined, risk-aware approach to capital deployment, with a focus on assets positioned to perform through the full
