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August 08, 2016

Northgate complex sells for $33M

Seattle Daily Journal of Commerce

SEATTLE - King County records show that the Park at Northgate Apartments sold Friday for $33 million. Located at 10735 Roosevelt Way N.E., the 1967 complex includes six three-story buildings with 146 units and surface parking.

The property is two blocks west of Northgate Mall and the Park & Ride, where a light-rail station will open in 2021.

The seller was MG Park at Northgate Apartments LP, which acquired the property in 2011 for $22.2 million. The buyer was Wallace Properties Park at Northgate LLC, associated with Wallace Properties of Bellevue.

Kidder Mathews' Philip Assouad and Giovanni Napoli represented both sides of the transaction.

© 2016 Seattle Daily Journal of Commerce. All rights reserved.

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