Waterton Purchases Martha Lake Apartments in North Suburban Seattle, WA

  

Peter Kuzma

 CHICAGO, IL  – Waterton Associates LLC, a U.S. real estate investor and operator, is pleased to announce its re-entry into the Seattle market with the acquisition of Martha Lake Apartments, a 155-unit garden-style apartment community in north suburban Lynnwood.

Located approximately 15 miles north of downtown Seattle, Martha Lake Apartments offers a mix of one-, two- and three-bedroom residences and a variety of on-site amenities, including an outdoor swimming pool, spa and racquetball court, as well as a resident-only fitness center and lounge.

 It is the sixth property acquired by Waterton in 2014 and the first community Waterton has owned in the Seattle area since 2004.

“Seattle has been and will continue to be a target market for Waterton because of its strong demand drivers and high barriers to entry,” said Peter Kuzma, assistant vice president, acquisitions, at Waterton Associates. 

“Development has been concentrated in the urban core, which has created an opportunity to implement value-add programs in older, well-located suburban communities like Martha Lake where we’re able to achieve strong rent premiums.

  

For leasing information, call (866) 545-7074 or visit www.marthalakeapts.com.

  

 For a complete copy of the company’s news release, please contact:

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527