Goodman Real Estate has sold two newly built Puget Sound apartment communities to New York investment firm KKR & Co. for a combined $172 million. Goodman developed both properties and was the seller.
The transactions, recorded by King County, cover the 235-unit Baldwyn in Seattle, which traded for $77.82 million, and the 195-unit Cru at Willows in Redmond, which traded for $93.85 million.
Baldwyn opened in the summer of 2024 near the Northgate light rail station. Cru at Willows is a six-story community in Redmond that Goodman developed on a site it acquired in 2021.
The Puget Sound Business Journal reported that the sales come as regional rent growth and occupancy begin to stabilize, with the market holding what CBRE described as historically healthy occupancy rates.
Read the full story at the Puget Sound Business Journal: KKR buys Seattle, Redmond apartment properties for $172 million.