RedHill Realty Investors based in San Diego has acquired an apartment community in Washington for an undisclosed price.
Built in 1978, Mira at Dash Point Apartment Homes in the Seattle suburb of Federal Way has 386 apartments in 50 buildings with apartments ranging from 611 square feet to 3,135 square feet, according to CoStar, a real estate listing service.
RedHill declined to name the seller.
The transaction was supported by Berkadia’s brokerage and debt teams, according to RedHill.
“We are excited about the Miro at Dash Point acquisition as it will allow us to attain strong, risk-adjusted returns in one of the most desirable real estate markets in the United States,” said Robbie Rodriguez, RedHill senior vice president of acquisitions.
Real estate reporter Ray Huard may be reached at firstname.lastname@example.org or 858-277-8904.