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Holland Closes $74M, 1,059-Unit Multifamily Buy

VANCOUVER, WA-An LLC led by locally based investor Clyde Holland acquires a five-property Puget Sound apartment portfolio from an LLC of Brentwood, CA-based Commercial Ventures. Holland tells GlobeSt.com that as part of the deal he took over management of the class B portfolio six months ago and has already stabilized it.

By Brian K. Miller | Updated on September 29, 2005

(To read more on the multifamily market, click here.)

VANCOUVER, WA-A portfolio of five Puget Sound-area apartment properties containing 1,059 units has changed hands for $74 million. An LLC led by locally based investor Clyde Holland acquired the portfolio from an LLC of Brentwood, CA-based Commercial Ventures.

The portfolio includes Jonathan’s Landing, a 576-unit development in Kent, WA; Kingsbrook, a 136-unit property in Lynnwood, WA, and; three properties in Everett, WA: Pacific Bay Club, a 121-unit complex; Brentwood, a 117-unit complex, and; Forest Park, a 107-unit complex. All of the properties were built in the mid 1980s.

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