Berkadia Completes $59.5 Million Sale of Multifamily Property in Washington

November 25, 2019

Berkadia Completes $59.5 Million Sale of Multifamily Property in Washington

November 25, 2019
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SEATTLE — November 25, 2019 — Berkadia today announced the $59.5 million sale of The Renton Sage, a 284-unit garden-style multifamily property in Renton, Washington. Senior Managing Director Kenny Dudunakis and Senior Directors David Sorensen and Ben Johnson of Berkadia’s Seattle office completed the sale on behalf of the seller, California-based New Standard Equities Inc. The buyer was an affiliate of New York-based Abacus Capital Group LLC, and the deal closed on November 13.

“With the growth of both Bellevue and Renton, especially the Renton Landing and Southport, we anticipate The Renton Sage will see continued strength in terms of its performance,” said Johnson.

Located at 4455 NE 12th St., The Renton Sage features two- and three-bedroom floor plans with walk-in closets, dishwashers and in-unit washers and dryers. Community amenities include a fitness center, a pool, a playground, a basketball court and walking trails. The property affords convenient access to Riverview Park, Renton Technical College and the shops and restaurants along NE Sunset Boulevard.

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