CBRE has completed the sale of Quay Bainbridge, a 70-unit multifamily community located at 250 Shannon Dr SE on Bainbridge Island, Washington, for $16.8 million.
CBRE’s Mark Zoffel and Natalie Kasper represented the seller, Quay Bainbridge LLC. “That demand and our proven process translated directly to the sale price — the property listed at $15M and closed at $16.8M,” said Kasper. “With 97% average occupancy over the past five years and zero new supply on the horizon, the opportunity to acquire a stabilized asset with full renovation upside in this submarket is rare.”…