YAKIMA, WA - Washington Commercial Real Estate LLC has purchased and started new management of a housing complex in south Yakima. The company immediately began rehab of homes to quickly address issues for existing residents while also adding improvements for future residents. Washington Commercial has determined Yakima to be a market of interest, and intends to purchase additional local commercial properties in the near future.
“We researched various Washington markets and came to the conclusion that there is much to like about investing in Yakima. We appreciate the occupancy levels combined with demographics. Local efforts continue to focus on diversity in manufacturing, health care, education, retail, government, and other employment centers, in addition to its agricultural foundation. Positive momentum is visible through several local business organizations, increasing path of progress development areas, and investment from national companies locating stores and restaurants here” said Scott Price, Manager of Washington Commercial.
“We intend to pursue additional acquisitions with our investors soon after stabilizing and repositioning this first local project.”
The complex is located in a positively transitioning neighborhood north of the airport. The project’s intent is to contribute by increasing home quality for existing residents and livability of the general area. Exterior and interior upgrades are already planned and underway.
Washington Commercial is based out of Seattle and is part of a portfolio of companies focusing on multi-family, retail, and office investment opportunities. Its goal is to provide a strong return to investors while also improving local community housing options for residents and retail/office locations for companies.
This transaction was brokered by Roger Wilson of Wilson Companies. His team will also continue on to provide full property management services via Wilson Real Estate Management plus construction crews for immediate rehab projects. Financing was provided by Senior Vice President Dave Bixby of Yakima National Bank/HomeStreet Bank.
Scott Price, Manager
Phone: (206) 419-7516
Email: [email protected]