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June 25, 2015

Bellingham apartments sell for $15M

McKenzie Square apartments in Bellingham sold for $14.7 million. The 60-unit property is at 1440 10th St. and has 17,000 square feet of retail.

The buyer is listed as McKenzie Square LLC.

The cap rate was 5.9 percent, and the price is about $212 per square foot for the eight-year-old building.

Summerfield Commercial Real Estate Services of Bellevue represented the buyer and seller.




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