Weidner Apartment Homes Sells Lynnwood Multifamily Community for $112 Million in CBRE-Brokered Deal

Weidner Apartment Homes has sold A'Cappella Apartment Homes, a 387-unit multifamily community in Lynnwood, Washington, for $112 million, with CBRE arranging the transaction on behalf of the seller.

The deal, which closed July 27, 2026, works out to approximately $289,000 per unit. Kyle Yamamoto, Eli Hanacek and Natalie Kasper of CBRE's Pacific Northwest Multifamily team represented Weidner Apartment Homes in the sale. The buyer was not disclosed.

Property Overview

A'Cappella Apartment Homes is located at 15001 35th Ave. W in Lynnwood, Washington. Built in 1989, the garden-style community was recently renovated with updated unit interior finishes and common area improvements. The property was 95% occupied at the time of sale.

Yamamoto described the asset as a standout offering for the submarket. "A'Cappella's scale and recent renovation made it a rare offering in a submarket where large, institutional-quality assets rarely trade," he said. "Its pivot-point location to major employment centers including Boeing, the Eastside, and downtown Seattle provided buyers the confidence in the property's long-term performance."

Lynnwood Submarket Dynamics

The transaction reflects sustained investor interest in Lynnwood's multifamily market, where supply has remained constrained. As of early 2026, only one project of more than 100 units was under construction within a five-mile radius of A'Cappella Apartment Homes, limiting near-term competitive pressure on rents and occupancy.

Lynnwood sits at the northern terminus of Sound Transit's Link light rail, which opened in August 2024 and connects residents to Seattle, SeaTac and the Eastside. The transit connection has effectively extended the Seattle urban core's rail shed northward, a factor that institutional investors have increasingly weighed in underwriting suburban multifamily assets in the region.

The property's location also provides access to several major employment centers, including Boeing's Everett operations, downtown Seattle and the Eastside's technology and corporate office clusters in Bellevue and Redmond. That diversified employment exposure is a key consideration in institutional underwriting of suburban multifamily assets.

Pricing in Regional Context

At approximately $289,000 per unit, the A'Cappella sale is consistent with pricing seen on comparable renovated suburban multifamily trades in the Puget Sound region. CBRE also brokered the $79.5 million sale of Cascade Ridge, a 270-unit garden-style community in Silverdale, Washington, which priced at roughly $295,000 per unit — closely aligned with the A'Cappella figure and reflecting broader pricing consistency across value-add suburban product in the market.

CBRE has been active across Puget Sound multifamily at varying scales. The firm also arranged the sale of Quay Bainbridge, a 70-unit community on Bainbridge Island, Washington, for approximately $17 million.

About the Firms

Weidner Apartment Homes is a major multifamily owner and operator in the Pacific Northwest. CBRE Group, Inc. (NYSE: CBRE), headquartered in Dallas, is a Fortune 500 and S&P 500 company and the world's largest commercial real estate services and investment firm, with more than 155,000 employees serving clients in more than 100 countries.