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Transactions - DECEMBER 1, 2020

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Sack Properties adds 114 units to portfolio

by Released

Sack Properties has acquired Chateau Woods, a 114-unit apartment community in Woodinville, Wash.

The property sold for $45.75 million, which equates to $401,316 per unit. BPM Real Estate Group was the seller.

“Chateau Woods fits perfectly into our long-term portfolio of suburban multifamily properties,” said Kirby Sack, CEO of Sack Properties. “Our investment mandate focuses on owning and operating in high-quality western United States submarkets. Typically our assets are of older vintage, but here we were able to uncover opportunity in a 2008 asset. Chateau Woods’ winning formula is the combination of excellent location, newer product, and growth opportunity.”

Chateau Woods is adjacent to the region’s technology hubs of Bellevue, Redmond, Kirkland and Seattle. Nearby employers include Amazon, Microsoft, Google and Facebook, all of which are expanding their physical footprint on the Eastside. Most recently, Amazon announced their intention to buil

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