RedHill acquires a 386-unit multifamily asset in outskirts of Seattle

RedHill Realty Investors has acquired Miro at Dash Point Apartment Homes in Federal Way, Wash. The acquisition is key to RedHill’s West Coast acquisition strategy that targets well-located value-add and core-plus communities in primary and secondary markets.

Miro at Dash Point is a 386-unit multifamily asset that benefits from a low-density feel, in-unit washers and dryers. Additionally, the property is less than two miles from a future light rail station that is fully funded, scheduled to open in 2024, and will connect residents directly to Kent, SeaTac, Downtown Seattle, and the greater MSA.

RedHill is a national investor and operator that strategically acquires value-add and core-plus opportunities in primary and secondary markets in the Western U.S. RedHill intends to reposition Miro at Dash Point by improving unit interiors and common areas, providing residents with a higher-quality living environment.

The transaction was supported by Berkadia’s brokerage and debt teams. Specific terms of the transaction were not made available.