A Los Angeles corporation bought two Silverdale apartment complexes in September for a combined $69.5 million.
Those transactions topped the list of commercial sales in Kitsap County in for August and September (you can see my July roundup here).
A total of 35 commercial parcels sold in August for a combined $10.23 million, according to county assessor’s records. In September, 12 parcels sold for $74.3 million, buoyed by the Silverdale apartment transactions.
Here’s a look at some of the notable commercial sales from August and September:
Wellington apartments, Silverdale — $38.25 million
Sale date: Sept. 24
Assessed value: $19.99 million
Sold by: GFS Wellington LLC. to Gemini Wellington Fee Owner LLC.
Description: A roughly 231,000-square-foot, 17-building apartment complex on 11.3 acres off Randall Way, accessed by Kensington Lane.
Notes: Formerly called Madison the Wellington. Built in 1988.
Ridgetop apartments, Silverdale — $31.25 million
Sale date: Sept. 24
Assessed value: $18.12 million
Sold by: GFS Ridgetop LLC. to Gemini Ridgetop Fee Owner LLC.
Description: A roughly 200,000-square-foot, 25-building apartment complex on 12.5 acres off Ridgetop Boulevard, accessed by Voyager Lane and Shipside Lane.
Notes: Formerly called Madison Ridgetop. One of several large complexes of Ridgetop Boulevard. Built in 1989.
Woodcreek apartments, Poulsbo — $3 million
Sale date: Sept. 8
Assessed value: $1.53 million
Sold by: Woodcreek Associates to Poulsbo 40 LLC.
Description: A 14-building apartment complex on 4.8 acres of Hostmark Street, across from Poulsbo Middle School.
Notes: Built in 1984. Buyer is based in San Diego.
Twelve Trees building, North Kitsap — $2.23 million
Sale date: Aug. 11
Assessed value: $1.64 million
Sold by: Jackson Brothers LLC. to Grundsund Property Co.
Description: A 21,000-square-foot building in Twelve Trees Business Park off Pioneer Way.
Notes: Headquarters for international marine apparel and gear company Grundéns. It appears Grundéns just bought the building. Continue reading
