October 26, 2016
JRK Property Holdings bought the 225-unit Trillium Heights apartment complex from Pinnacle and AEW Capital Management. The Los Angeles buyer paid $37 million for the asset in Silverdale, WA. John Hallgrimson, Eli Hanacek, Frank Bosl and Josh McDonald in CBRE’s Seattle office represented both parties in the transaction.
The complex sits on 11 acres at 12240 Daphne Lane NW. The property delivered in 1989 and renovated in 2011. The selling JV acquired the property in 2008 for $22.1 million. Trillium Heights offers one-, two- and three-bedroom units, and was 96% occupied at closing.
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