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Seattle-based Security Properties and Pacific Life purchased the 398-unit Anthology multifamily development on Dec. 27 for $163M in an off-market transaction.
Anthology, located at 1610 Anthology Ave. NW in Issaquah, includes a two-story clubhouse, shuffleboard, billiards, conference room, fireplace lounge and community kitchen. It has a fitness center, outdoor pool, BBQ stations, bike repair station and easy access to trails. Units include stainless steel appliances, washer/dryers, quartz countertops, balconies/decks and some 14-plus foot ceilings.
The acquisition brings Security Properties total apartment unit count to 24,500, including 5,600 in the greater Puget Sound area. Earlier this year Security Properties, along with STARS REI, purchased Augusta Apartments in the U-District for $98.1M.
Issaquah has been attracting multifamily developments recently. In 2019, SeaLevel Properties opened the five-story multifamily Vale Apartments. Intracorp broke ground on the 71-unit Kelkari townhomes in October. The homes, which will cost between $700K and $900K, are set to deliver in early 2022.
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