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West Ridge Park Apartments in West Seattle’s Delridge neighborhood was recently purchased by RISE Properties Trust and Boston-based Intercontinental Real Estate Corp.
With this most recent purchase, RISE, a Canadian-based REIT, now owns 11 assets in the Puget Sound.
“Low density townhouse product located five minutes from the Junction and 15 minutes from downtown Seattle is unique and desirable to today’s renter,” RISE President Barrett Sigmund said in a statement. “Acquiring well-located, value-add multifamily properties in Seattle is increasingly challenging.”
Intercontinental Senior Director for Acquisitions Jessica Levin said the Seattle market is desirable.
“Seattle is a dynamic market and we are excited about the employment drivers in the area,” she said in a statement.
The 239-unit West Ridge Park Apartments is Intercontinental’s eighth acquisition in the Pacific Northwest.
Thrive Communities, a Seattle-based company, will manage the property, which is at 7901 Delridge Way SW.
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