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July 2, 2025

56 Ballard units sell for over $10M

By JOURNAL STAFF

SEATTLE — The recently completed Chinook apartments, at 1446 N.W. 53rd St. in Ballard, sold this week for almost $10.6 million, according to King County records. The seller was Chinook Ballard LLC, associated with Walls Property Management, which acquired the land in 2018 for about $1.3 million. Construction began in the spring of 2022.

The buyer was Nordic Tower LLC, associated with Nordic Partners Investments, which is led by Jeff Derus and Kevin Falk. That local shop has recently emerged as a value-add buyer of older multifamily properties. Chinook is a new exception to the rule. Public records indicate a loan from CBRE Capital Markets.


 
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