Westlake Associates Inc.

Wishing you all a joyful holiday season filled with peace, happiness, and well-deserved rest. ✨🎄☃️

Quick Reminder: The upcoming TRENDS 2024 event is being held on Dec 17 (tomorrow!). Looking forward to connecting and seeing you there!

We are excited to be part of Rental Housing Association of Washington's TRENDS Tradeshow next week on Tues, 12/17. We invite you to connect with our team at Booth #37! Event Registration: https://lnkd.in/eyAPmbS Attendees can expect: + Workshops/Speakers on Rental Housing Insights & Industry Trends + Vendors & Exhibitors + Networking with Experts Hope to see you there! #rhawa #rentalhousing #trends2024 #propertymanagement

JUST CLOSED! We're excited to announce the closing of the Northwood Manor and Outlook Apartments in Pullman, WA. These were both LIHTC properties totaling 102 units. At time of closing, both properties were operating approximately at a combined 40% vacancy rate which made it quite challenging to achieve new financing. A big Thank You to Buyer, Seller and Loan Broker for their persistent and diligent efforts in getting these properties across the finish line. Congrats to Listing Brokers - Matthew Moloney, Chad Martini & David Petersen! #justclosed #commercialrealestate

JUST CLOSED! 16-Unit in a prime location between Green Lake and Maple Leaf. The 5th Ave Manor Apartments sold at list price achieving market value for the Seller - large and spacious units provide great potential to increase value with bedroom-add conversions for the Buyer. Congrats to Listing Brokers - Chad Martini and David Petersen! #justsold #commercialrealestate

JUST SOLD! The Crisjanic Apartments is a fantastic 12-unit building in Burien. This building offers potential for a conversion play and value-add opportunity, exciting for investors looking to unlock long-term value. Congrats to Listing Brokers - Matthew Moloney, Chad Martini & David Petersen! #justsold #commercialrealestate

The Westland Apartments proved to be a strong investment opportunity for the buyer, thanks to its central location in Lakewood and its turnkey interior condition. When representing the seller, one challenge we faced was working with the property management team to reallocate payroll expenses. Within the seller’s multifamily portfolio, which was managed by the same property management team, administrative and maintenance technician payroll had been disproportionately allocated across the portfolio. Capital expenditures were also scrubbed, ensuring that routine repairs and maintenance were accurate and reflective of market norms, further aligning the property’s financials.   The property sold to a local commercial property owner in the Lakewood market who recognized the value of a turnkey asset featuring high-end interior renovations and in-unit washers and dryers. Congratulations to all parties involved!

JUST LISTED! The EOS Apartments is a Mixed-Use, 15 Units + 4 Retail Investment Opportunity in West Seattle. All of the apartments are two-bed, two-bath units boasting over 1,000 square feet. For more information, contact Listing Brokers - Chad Martini & David Petersen. #justlisted #forsale #commercialrealestate

🌟 Exciting News! 🌟 We are proud to share that our company has been awarded Silver in the Best in the PNW – Commercial Real Estate category by The Seattle Times🥈 This achievement wouldn’t have been possible without the incredible support from our team, clients, and community. Your trust and collaboration have been vital to our success, and we are deeply grateful. Thank you for being part of our journey. Here’s to reaching continued success and even greater heights together! #commercialrealestate #BestinthePNW #SeattleTimes #Gratitude

JUST LISTED! A+ Location in Ballard!