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8/31/26
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In a notable multifamily trade in Washington, MG Properties acquired Woodcreek Apartments, a 164-unit community in Lynnwood, for $53 mil ($323.2k/unit).
Located at 14611 Admiralty Way, Woodcreek Apartments provides residents convenient access to employment centers, retail, dining, recreation, and major transportation corridors throughout the greater Seattle area. The community’s location also benefits from Lynnwood’s continued growth and its connection to the region’s broader transit network.
Woodcreek offers recently renovated one-, two-, and three-bedroom apartments with spacious layouts ranging from approximately 800 sf to 1.2k sf. Community amenities include: co-working lounge; barbecue pavilion and picnic area; state-of-the-art fitness center; resident social lounge; reserved parking; onsite playground; high-speed Internet; basketball court; and a dog park.
The seller was represented by Eli Hanacek, Kyle Yamamoto and Natalie Kasper from CBRE. Financing for the transaction was led by CBRE Capital Markets’ Troy Tegeler and Trevor Breaux. The acquisition expands MG Properties’ presence in the Pacific Northwest and adds another high-quality residential community to its growing Seattle portfolio.
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