Nuveen Sells Boulder Creek Apartments in Sammamish for $102 Million; CBRE's Eli Hanacek, Kyle Yamamoto and Natalie Kasper Arrange Deal

Nuveen has sold Boulder Creek Apartments and Townhomes, a 204-unit multifamily community in Sammamish, Washington, for $102 million, with CBRE arranging the transaction on behalf of the seller.

Eli Hanacek, Kyle Yamamoto and Natalie Kasper with CBRE's Pacific Northwest Multifamily team represented Nuveen in the deal. TA Realty acquired the property through a special-purpose entity, TARR Boulder Creek LLC. The sale recorded on September 10, 2026.

Property Details: Boulder Creek Apartments and Townhomes

Located at 4425 Issaquah-Pine Lake Rd. SE, Boulder Creek consists of 204 apartment and townhome units built in 2002. The property spans approximately 33.7 acres and features one-, two- and three-bedroom floor plans, including townhomes with attached garages. Units average approximately 1,114 square feet, with individual unit sizes ranging from roughly 733 to 1,536 square feet.

At $102 million, the transaction implies a price of approximately $500,000 per unit and a land basis of roughly $3 million per acre. Community amenities include a clubhouse, outdoor pool and spa, fitness center and dog park.

The property is situated within the Sammamish and Issaquah corridor, providing residents access to major employment centers throughout the Eastside, including Bellevue, Redmond and Seattle. The asset has historically operated in the low- to mid-90% occupancy range, consistent with structural demand and limited new supply in the submarket.

Supply Dynamics Support Eastside Multifamily Demand

No multifamily projects containing more than 100 units are currently under construction within five miles of the property, supporting favorable long-term supply-demand dynamics in the submarket.

"Multifamily communities of this quality rarely come available in Sammamish, particularly assets that combine large floor plans, townhome product and long-term upside," said Hanacek. "The depth of the bidding on Boulder Creek shows how much capital is targeting well-located Eastside housing with scale, strong demographics and a clear path to add value."

Nuveen's Sammamish Exit and Capital Recycling

Nuveen acquired Boulder Creek in 2021 as part of a larger Seattle-area multifamily portfolio assembled for approximately $245 million, which included Boulder Creek as the smaller of two assets in the package. The sale represents Nuveen recycling capital out of a portfolio it assembled mid-cycle.

Nuveen held the property through USCMF Boulder Creek LLC. The buyer, TA Realty, is a Boston-based real estate investment firm.

CBRE Pacific Northwest Multifamily Team

The transaction was brokered by Eli Hanacek, Kyle Yamamoto and Natalie Kasper, all members of CBRE's Pacific Northwest Multifamily team. CBRE Group, Inc. (NYSE: CBRE) is headquartered in Dallas and is the world's largest commercial real estate services and investment firm, with more than 155,000 employees serving clients in more than 100 countries.

Sources

CBRE Press Release: CBRE Arranges Sale of Boulder Creek Apartments and Townhomes in Sammamish, Washington