CBRE Arranges $53M Sale of Chambers Reserve Townhome Community in Lacey, Washington

CBRE has arranged the $53 million sale of Chambers Reserve, a 125-unit townhome community in Lacey, Washington, the firm announced Sept. 30. CBRE's Jordan Louie, Eli Hanacek, Kyle Yamamoto and Natalie Kasper represented the seller in the transaction.

Chambers Reserve Sale Details

Chambers Reserve is a newly constructed built-to-rent community located at 3725 Wildspitz St. SE in Lacey, a city in Thurston County. The $53 million price equates to roughly $424,000 per unit, based on the announced price and the 125-unit count.

"Chambers Reserve offered investors a unique opportunity to acquire a newly constructed built-to-rent community in the growing Puget Sound region," said Louie. "The property's expansive floor plans, thoughtful amenities and proximity to several major employment centers were major factors in creating strong investor interest."

Property Features and Location

The community sits on an 8.33-acre site near Interstate 5, which provides access to Olympia, Tacoma and the broader Puget Sound region. The property is south of central Lacey and near the Chambers Lake Natural Area, in a suburban setting rather than a dense urban submarket.

Built in 2023, Chambers Reserve includes 23 townhome buildings with a mix of three- and four-bedroom floor plans. The average unit size is 1,736 square feet, which implies roughly 217,000 square feet of rentable area across the 125 units and a price of about $244 per square foot. Both per-unit and per-square-foot figures are calculations based on the announced price, unit count and average unit size.

Community and unit amenities include two-car garages, private decks, air conditioning, quartz countertops, stainless steel appliances, a 24-hour fitness center, a seasonal swimming pool and a clubhouse.

Built-to-Rent Townhomes in the Puget Sound Region

Chambers Reserve combines recently delivered construction with larger-format units, private outdoor space and garages. That product type targets renters seeking more space than conventional garden-style apartments typically provide, and it can broaden the renter pool to families and higher-income households. The property's proximity to Interstate 5 also ties it to the employment base across Olympia, Tacoma and the wider Puget Sound area.

CBRE's Role and Corporate Context

CBRE reported second-quarter 2026 revenue of $11.2 billion, up 16% year over year, with core earnings per share of $1.56 and GAAP earnings per share of $0.69. The company's transactional businesses, which include advisory activities relevant to property sales, recorded 19% revenue growth in the quarter.

CBRE Group, Inc. (NYSE: CBRE) is headquartered in Dallas and has more than 155,000 employees serving clients in more than 100 countries. The Chambers Reserve announcement was issued from the firm's Seattle office.

Sources

CBRE press release: https://www.cbre.com/press-releases/cbre-arranges-53m-sale-of-125-unit-townhome-community-in-lacey-washington