SEATTLE — Jones Lang LaSalle’s Capital Markets experts today announced the $8.7 million sale of Meridian Glen, an 86-unit apartment community in the desirable Silver Lake submarket of Everett, Wash. The buyer was Chicago-based Randolph Street Realty Capital LLC.
Located at 12115 Meridian Avenue South and completed in 1990, Meridian Glen consists of two and three-story garden style buildings on 3.32 acres. Community amenities include covered parking, a clubhouse, athletic center, indoor pool and spa with hot tub, sunning patio and children’s playground.
“This property sits in an attractive submarket less than four miles from Boeing’s 30,000 personnel Everett facility and with minimal new units due to come online through 2015, it provided a very attractive value proposition to the buyer,” said David Young.
Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2012 alone, Jones Lang LaSalle Capital Markets completed $63 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $60 billion in global investment sales and buy-side transactions, equating to nearly $240 million of investment trades completed every working day around the globe. The firm’s Capital Markets team comprises more than 1,300 specialists, operating all over the globe.
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About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.7 billion of real estate assets under management. For further information, visit www.jll.com.