Kirkland Apartment Complex Sells for $9.8M

KIRKLAND, WA-The WillowRim Apartment complex in the Totem Lake neighborhood has traded hands. Trinity Partnership, a Seattle-based apartment investment group, sold the 115-unit development for $9.8 million. The buyer is Hunt Development Corp. of Cincinnati, OH.

The listing agent who brokered the deal could not immediately be reached for comment Friday on occupancy levels and other details. The per-unit price of the sale is $85,000. Monthly rental rates for the 700-sf to 1,050-sf units range from $740 to $1,050. The apartments are located at 13215 NE 123rd St. Trinity purchased the property in 1989, and completed the 94,413-sf project in 1992. Hendricks & Partners of Seattle represented the seller in the transaction.