W
aterton, a US real estate investor and operator, has acquired the 386-unit Brackett Apartments in Edmonds, Washington. The property was sold for $124m (€107.5m). Originally built in 1987, the complex consists of 23 three-storey buildings and two clubhouses across 22 acres.
The acquisition brings Waterton's holdings in the Seattle metro area to 1,331 units. Located at 9501 244th St SW, Brackett Apartments offers a desirable waterfront location with access to strong schools, employment hubs, transportation nodes, and lifestyle amenities.
According to Kevin Ibasco, senior vice president of acquisitions at Waterton, "Brackett presents a rare opportunity to acquire a multifamily property in the Edmonds neighbourhood. Its prime location makes it an attractive investment."
