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March 22, 2016

Mill Creek apartment complex sale tops biggest real estate deals in Snohomish County

Puget Sound Business Journal

Melissa Crowe

Greystar Investment Group walked away with more than $45 million in profit after selling The Mill at Mill Creek, an apartment complex it owned in Snohomish County for three years, to The Blackstone Group.

The $115.4 million deal, completed Dec. 8, topped the Puget Sound Business Journal's List of Largest Real Estate Deals in Snohomish County.

Four of Snohomish County's top five commercial real estate deals involved multi-family, or apartment, properties.

Does this mean more renters are moving north of Seattle? According to the most recent Census data, about of third of Snohomish County's population were renters in 2014, which has steadily grown to 33.5 percent from 31.9 percent in 2010. The median rent has increased to $1,128 from $994 during the same time period.

What properties made the list?

1. The Mill at Mill Creek
2. 4303 236th St. SW, Montlake Terrace
3. Fulton's Crossing, Everett
4. Walden Pond, Everett
5. 2500 223rd St., Bothell

The List ranked deals by sale price with information from Kidder Mathews, First American Title and Insurance Co. and public documents.

For the entire list of Snohomish County's real estate deals, including the names of the buyers and sellers, see the March 18 print and online editions of the Puget Sound Business Journal.

The full lists are available only to subscribers. Subscribers can view the entire list online.

For the full story, go to Puget Sound Business Journal.

© 2016 American City Business Journals. All rights reserved.

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