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.