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Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
Steven Chattin
Managing Director
425.269.3826
steven.chattin@berkadia.com
Jay Timpani
Managing Director
206.999.3206
jay.timpani@berkadia.com
Beau Krueger
Associate Director
beau.krueger@berkadia.com
Michael Manolides
Associate Director
253.670.2143
michael.manolides@berkadia.com
INVESTMENT ADVISORS
Robert Doxsee
Managing Director
425.777.0235
robert.doxsee@berkadia.com
MORTGAGE BANKING
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Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
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Turnkey Asset in Growing submarket
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Address: City, State, Zip Year Built: Units: Avg. Unit Size Stories Buildings NRSF Lot Size Parcel Number Zoning
Turnkey, well-maintained, with upside
Chad Blenz
Senior Director
206.491.2008
chad.blenz@berkadia.com
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
contact
Phone: 206.521.7220
Fax: 206.521.7222
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Turnkey Asset with Substantial Upside Potential
Built in 2023 by Blue Fern Development and Teak Construction, these units are primed for marketing as soon as an investor takes ownership.
Meticulous, Modern Design
With options ranging from studios to two-bedrooms, the units feature stainless steel appliances, wood-plank-style flooring, in-unit washers and dryers, gooseneck kitchen faucets, and energy efficient windows.
First-Class Community Amenities
The community offers premier amenities, including a fitness center, community lounge with workstations, outdoor patio with fire pit and barbecues, outdoor dining area, EV charging stations, and ample parking options.
Unparalleled Location
Situated in the heart of Lacey, Washington, the property is less than half a mile from major distribution centers, including The Home Depot, Amazon, and Uline, and minutes from Pleasant Glade Park, a 31-acre space that boasts waterfront access, walking trails, and recreational areas.
Booming Submarket
The Olympia submarket is one of the fastest-growing regions in the state, with employment growth exceeding 2.9% over the last year, significant rent affordability (18.3% share of wallet), and a cost-of-living index that is nearly 10% lower than the rest of Washington.
Affluent, Expanding Renter Base
Throughout the Olympia MSA, 68% of individuals are employed in white-collar positions, with the average household income projected to reach $126,635 by 2029. Population growth is anticipated to reach 5.4% over the next five years, surpassing 318K residents.
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144 Unit New Construction Asset Located in Rapidly Expanding Market
Brandon Lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
Artur Otto
Associate Director
artur.otto@berkadia.com
Michael Manolides
Associate Director
253.670.2143
michael.manolides@berkadia.com
Robert Doxsee
Managing Director
425.777.0235
robert.doxsee@berkadia.com
artur Otto
Associate Director
artur.otto@berkadia.com
Beau krueger
Associate Director
beau.krueger@berkadia.com
Chad Blenz
Senior Director
206.491.3826
chad.blenz@berkadia.com
brandon lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
Jay Timpani
Managing Director
206.999.3206
jay.timpani@berkadia.com
Steven Chattin
Managing Director
425.269.3826
steven.chattin@berkadia.com
Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
INVESTMENT ADVISORS
MORTGAGE BANKING
Our team
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View Listings
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
contact
Phone: 206.521.7220
Fax: 206.521.7222
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
Patrick harmon
Associate Director
patrick.harmon@berkadia.com
Patrick harmon
Associate Director
patrick.harmon@berkadia.com
7415 Hawks Prairie Rd NE Lacey, WA 98516 2023 144 758 SF 3 6 109,128 SF 2.79 acres / 129,259 SF 75390000100 CCD – Community Commercial District
Constructed in 2023, Arrow Apartments is a 144-unit, garden-style property spanning three acres in the rapidly expanding market of Lacey, Washington. A turnkey asset with rental upside, the property features luxury finishes, exceptional amenities, and an ideal location within half a mile of major distribution centers for Amazon, Trader Joe’s, Target, and more.
Thoughtfully designed and offering a sense of tranquility, the property was constructed with connectivity to the community at the forefront while achieving proximity to everyday conveniences, nature, and major employers. All units are equipped with stainless steel appliances, high-end countertops & backsplashes, luxury vinyl plank flooring, undermount sinks, private patios, Whirlpool washers and dryers, and more. Select units feature breakfast bars, kitchen islands, and a separate dining room, offering new tenants flexibility with various floor plan options across all unit mixes. The surrounding community offers a serene, wooded setting mere minutes from Pleasant Glade Park and Nisqually National Wildlife Refuge, providing tenants with equal access to beautiful parks and beaches and access to both downtown Lacey and Olympia. Additional features include smart (keyless) home entry, controlled access, and tenant rewards benefits through Bilt Rewards Alliance.
ARROW
Ben Johnson
Managing Director
425.999.6970
ben.johnson@berkadia.com
David Sorensen
Managing Director
206.351.5222
david.sorensen@berkadia.com