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December 11, 2014

Coast Equity pays $25.5M for BluWater

Daily Journal of Commerce

Everett-based Coast Equity Partners paid $25.5 million for BluWater, a 152-unit apartment complex at 11311 19th Ave. S.E. in Everett. The seller was Grosvenor Americas. Kidder Mathews represented Grosvenor in the deal. The complex has seven two- and three-story buildings and was constructed in 1991. Grosvenor bought it in 2007 and upgraded the clubhouse, gym and units. Coast Equity is actively buying apartments, manufactured housing parks, medical buildings, office buildings and retail valued between $5 million and $25 million. Grosvenor Americas has 2,400 apartments in the U.S. and Canada, mostly on the West Coast.

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