Colliers has closed the sale of the Fern Ridge apartment complex located at 1309 Fern Street SW in Olympia, Washington. Built in 1994, Fern Ridge is a 99-unit property with one-, two- and three-bedroom layouts, averaging around 775 square feet per unit.
The Colliers PNW team, consisting of Casey Winkler, Sean Worl, and Ken Verbeck, represented both the seller, Transpacific Investments, and the buyer, Glencrest Group. “This transaction represents a resurgence of compelling value-add multifamily investment opportunities amid capital market volatility and rising interest rates,” said Worl.
Fern Ridge is conveniently located near a variety of shopping, dining, and entertainment destinations, such as the Capital Mall. The property is also within a ten-minute drive of the Washington State Capitol building.