The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
September 29, 2022
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
University of Washington is Looking for a Student Housing Developer/Operator to Manage Four-Property Portfolio

9/19/22

The University of Washington (UW) has issued a request for qualifications for a student housing developer and operator of a rare four-property university housing and development site portfolio in Seattle. The portfolio includes four existing residential properties, flanking or near the UW Seattle campus, encompassing 694 apartments on 36.5 acres.

Kyle Yamamoto, Jon Hallgrimson, Mark Washington and Eli Hanacek with CBRE’s Pacific Northwest multifamily team are advising UW in the search for a developer. The opportunity is for a lessee to enter into separate ground leases for all four properties, with UW as the lessor. The ground leases can run for a maximum of 80 years.

The largest property in the portfolio is Radford Court, a 399-unit apartment community on 22.3 acres at 6301 65th Ave NE. Radford Court was built in 2000 and is a candidate for renovation or, potentially, redevelopment.

The second property is Nordheim Court, encompassing 135 units on 3.1 acres at 5000 25th Ave NE. Nordheim Court is the most recently constructed, completed in 2003, and is likely to continue operations with some improvements made to the property.

The third property is Blakeley Village, totaling 80 units on 4.7 acres, located next door to Nordheim Court at 5000 25th Ave NE. Blakeley Village was built in 1981 and is a prime candidate for redevelopment into a newly constructed, 900-plus bed, student-focused apartment project.

The final property is Laurel Village with 80 units on 6.4 acres at 3800 E Stevens Way. Laurel Village was also built in 1981 and is slated for redevelopment with initial plans calling for new construction of at least 160 units. The property will cater to student families with an on-site childcare facility.

All four properties are located either on the border of the UW campus or within a few minutes’ drive. Radford Court is the furthest away at 2.5 miles. Blakeley Village and Nordheim Court are both adjacent University Village, Seattle’s only outdoor lifestyle shopping center.

“The University of Washington’s housing portfolio is one of the premier student housing opportunities in the nation and should garner exceptional interest from the industry’s most qualified student housing developers and operators,” said Yamamoto.

UW welcomes over 48,000 students to its Seattle campus each year, in addition to 26,000 faculty and staff. Reuters has repeatedly ranked the school as the most innovative public university in the world. The University is currently pursuing a 6 msf campus development project.

RFQ responses are due October 14, 2022, with the final lessee to be named in 2023. For more information, visit www.CBRE-UH4.com






Return to the previous page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2022 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media