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MULTIFAMILY NEWS
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Jackson Square Properties Buys 216-Unit WA Multifamily Property

12/31/21

San Francisco-based Jackson Square Properties has acquired Ambrose, a 216-unit apartment property in Bremerton, WA. The property was sold by an affiliate of The Wolff Company.

The garden-style property, located at 4520 Bay Vista Blvd, features one-, two- and three-bedroom homes averaging 836 sf in size. The community also has an outdoor pool and spa. An indoor-outdoor clubhouse features a community kitchen, fitness center and co-working pods. Outdoor amenities also include a dog park and playground.

The property is minutes from Puget Sound Naval Shipyard’s large employment base, and the Bremerton Fast Ferry connects area residents to downtown Seattle in 30 minutes. Seattle recently ranked second in North America for high-tech job growth in CBRE’s 2021 Tech-30 Report. The Puget Sound region added nearly 40,000 high-tech jobs in 2019 and 2020, equating to a growth rate of 21.9%. Only Toronto grew faster at 26.4%.

CBRE’s Jon Hallgrimson, Eli Hanacek, Mark Washington and Kyle Yamamoto represented the seller in the transaction. The price was not disclosed.

“Demand from investors outside the region continues to be strong,” said Hallgrimson. “Puget Sound leads the country with an incredible recovery and a strong future outlook with continued regional growth fueled by major expansions in tech, life sciences and infrastructure.”





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