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March 13, 2014

Houston firm buys Lynnwood apartments

An entity related to Apex Properties Group of Houston bought the Heather Ridge apartments, a 107-unit complex in Lynnwood, for $12.15 million. Weidner Apartment Homes was the seller. The complex is at 20427 68th Ave. W., across the street from Edmonds Community College. Heather Ridge is 99 percent leased and has a swimming pool, sauna and gym. Louis Weisman of Berkadia Commercial Mortgage arranged a $9.1 million loan for the purchase of the complex. Berkadia also recently arranged a $49.3 million loan for a 293-unit retirement community in Portland.




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