At the time of the transaction, the 108-unit property had an occupancy rate of 95.4 percent. on a 5.97-acre site, Sunnyside Place offers one-, two- and three-bedroom units, with an average size of 1,025 square feet. HFF will service the securitized loan through its Freddie Mac Program Plus Seller/Servicer program. The debt placement team arranged $10.58 million via a floating- to fixed-rate acquisition loan through Freddie Mac’s CME Program. Financing for the acquisition was also provided by a team of HFF representatives led by managing director Tom Wilson and director Charles Halladay. The deal was arranged by an HFF team including director Ira Virden and senior real estate analyst Kerry Hughes. Meanwhile, in Clackamas, Oregon, Wood River Properties sold Sunnyside Place, a garden-style community, to buyer Hamilton Zanze for $14.1 million. The Station is a transit-oriented residential community that offers a complete resident amenity package, including retail, a common courtyard with a garden, a community room, a fitness facility, an art & grand staircase, as well as a skydeck with 360-degree views of nearby Mt. near Sound Transit’s Othello Link light-rail station. The 351-unit property is located in South Seattle, at 4219 S.
The seller was a partnership of USAA Real Estate and local developer Steven Rauf. Universal Investment, an entity based in Frankfurt, Germany, paid $74.8 million for The Station at Othello Park.
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