Le Lézard
Classified in: Business
Subject: RLE

CEP Multifamily Acquires 97-unit Regal Ridge Apartments in Spokane, WA


EVERETT, Wash., July 7, 2023 /PRNewswire/ -- CEP Multifamily announced their July 7, 2023, acquisition of Regal Ridge, a 97-unit market rate garden apartment community in Spokane's desirable South Hill neighborhood.  Regal Ridge is the first acquisition in Spokane for the vertically integrated Everett-based firm and grows their existing Pacific Northwest portfolio to 1,606 units, 475 of which are outside of the Puget Sound Region.  The acquisition price was $21.5 million ($221,650 per unit), according to Josh Jansen, CEP Multifamily's President and Managing Partner. 

"We have targeted the Spokane MSA as a top growth market for our suburban, core-plus investment strategy," said Jansen.  "Spokane County boasts strong local economic fundamentals as the Inland Northwest's regional employment hub.  Residents enjoy a high quality of life and relative housing affordability, which have fostered a diverse, well-educated labor pool.  These factors have supported long-term population and employment growth...trends we believe will accelerate in the coming years.  We look forward to continuing to grow our presence in the Spokane metro." 

Ryan Harmon, Nicholas Ruggeiro, Giovanni Napoli, and Philip Assouad of Institutional Property Advisors (IPA) brokered the transaction. 

Contact:
Jessica Disman, Director - Capital Markets & Investor Relations 
[email protected]
425-405-1885

SOURCE CEP Multifamily


These press releases may also interest you

at 21:45
Pangea Entertainment Productions and Big Bang Mediaverse announce co-production partnership
Pangea Entertainment Productions (Venice, Ca.) and Big Bang Mediaverse (Mumbai, India) announce a partnership to create and produce innovative multiplatform content aimed at younger and connected audiences globally and in India. The first program in...

at 21:41
AKRO INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Akero Therapeutics, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit!
Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Akero Therapeutics, Inc. ("Akero" or "the Company") and certain of its officers....

at 21:30
Astellas and Poseida Therapeutics Enter Into Research Collaboration and License Agreement to Develop Novel Allogeneic Cell Therapies in Oncology
Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura, "Astellas") and Poseida Therapeutics, Inc.  today announced that Xyphos Biosciences, Inc., (a wholly owned subsidiary of Astellas, "Xyphos") and Poseida have entered into a...

at 21:22
Fred Ghodoosi Joins L&F Brown as Senior Litigation Counsel
L&F Brown, P.C., a law firm serving the needs of Fintech, Legaltech and other innovative companies, has announced the addition of?Fred Ghodoosi?as Senior Litigation Counsel. Throughout his career, Ghodoosi has been counsel for Fortune 100 companies,...

at 21:02
THE HEMPSHIRE GROUP, INC. ANNOUNCES A DELAY IN FILING 2023 ANNUAL FINANCIAL STATEMENTS AND RELATED MANAGEMENT'S DISCUSSION AND ANALYSIS
The Hempshire Group, Inc. ("Hempshire" or the "Company"), a California-based non-tobacco and non-nicotine smokables alternatives company that formulates and sells its own proprietary brand of cannabidiol hemp smokes ("CBD Hemp Smokes") under the...

at 21:00
Landlord Studio Launches Free Listing Syndication Ahead of Peak Moving Season
Landlord Studio, the leading property management accounting software for self-managing landlords announced its new free listing syndication feature in partnership with Zillow and Zumper. Charles Chan, CEO of Landlord Studio said, "We're delighted to...

More news about Business...


News published on and distributed by: