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October 10, 2013

Apartment sale sets Kirkland record

Image courtesy CBRE [enlarge]

An entity related to Pathfinder Partners LLC, a San Diego-based real estate equity firm, sold The Pines at Totem Lake to a local LLC managed by John Backus for $8.78 million. That's $302,587 per unit for the 29 apartments, a record for Kirkland. Steven Chattin and Mitchell Belcher of CBRE represented the seller. Chattin said small complexes are attractive to investors. The Pines is at 12411 N.E. Totem Lake Way, just south of the EvergreenHealth main campus and adjacent to Totem Lake Mall.




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