Newmark Multifamily Arranges $53.3M Sale and Freddie Mac Financing of Waterford Apartments in Everett, WA

EVERETT, Wash. — June 3, 2026 — Newmark has arranged the $53.3 million sale and Freddie Mac financing of Waterford Apartments, a 200-unit apartment community located at 2020 Lake Heights Drive in Everett, Washington. The transaction is the highest price paid for a multifamily community in Everett since May 2023, according to Real Capital Analytics data cited by the firm.

The deal implies a price of approximately $266,500 per unit. Newmark Executive Managing Director Marty Leith represented the undisclosed seller, while Managing Director Alec Newman arranged the Freddie Mac financing for the transaction. The buyer was not disclosed.

Property Overview and Deal Structure

Waterford Apartments sits near the shore of Silver Lake in northern Washington, approximately 25 miles north of downtown Seattle. The property was constructed in 1989 and most recently renovated in 2014. Amenities include indoor and outdoor pools, a sauna and spa, a dog park, and a fitness center.

The transaction was financed through Freddie Mac. Specific loan terms were not disclosed.

Everett Market Context

According to Real Capital Analytics data cited by Newmark, sales dollar volume in Everett over the past 12 months totaled $154.7 million — approximately 15.5% of the market's $1 billion annual peak recorded over the prior five years. That figure suggests overall transaction volume in the submarket has not returned to prior highs, even as select assets continue to trade at notable prices.

"We're thrilled to be a part of the largest Everett sale in the last 12 months," said Leith. "Everett continues to perform with some of the strongest short- and long-term rent growth in the Seattle market. A low number of new deliveries and continued renter demand will keep Everett a focal point for many investors."

A Repeat Disposition for the Same Broker

Leith has arranged the sale of Waterford three times since 2011, most recently in 2016, underscoring the asset's history as a recurring disposition assignment across multiple market cycles. The latest transaction marks the third time the property has changed hands under Leith's representation in roughly 15 years.

About Newmark

Newmark Group, Inc. (Nasdaq: NMRK) describes itself as a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. For the twelve months ended March 31, 2026, Newmark generated revenues of more than $3.4 billion. As of that date, Newmark and its business partners operated from over 185 offices with more than 9,600 professionals across four continents.