November 10, 2016
A little more than a year after delivering the 177-unit Milehouse apartment complex to market, developer Legacy Partners sold the Redmond, WA-based asset. The buyer and sales price were undisclosed, with King County assessing the property at $58.1 million.
Pete Shelton and Kim Grant with Institutional Property Advisors brokered the sale. AIG provided equity financing for the project, and JP Morgan was the lender.
Milehouse, at 8300 160th Ave. N.E., offers studio, one, and two-bedroom units, as well as 2,100 square feet of ground-floor retail space. Anchoring the retail is gastro-pub Growler USA. Other amenities include two fitness rooms, a clubhouse with a kitchen, movie theater, bike and ski storage space, and a dog-wash station.
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