Integral NW sold Allegro Lynnwood, a 240-unit apartment community in Washington, to the Housing Authority of Snohomish County for $77.5 million. Cushman & Wakefield brokered the transaction.
“The project trend is more towards those quality spaces. Quality buildings, and then building out a high-quality space — you have to kind of lure [employees] in essentially.”
“It's a very common conversation right now amongst brokers asking, ‘Hey, do you have anything off market?’”
“There can be no 'America First' agenda without investing in communities first. CDFIs drive economic opportunity in communities across America—from rural towns to urban neighborhoods—delivering jobs, a...”
“Limited supply is leading to a lot of demand, which is parlaying into new retail development projects being built.”
“Paulson believes inflation remains above target at 2.8%, and while long-term expectations align with 2%, these may be fragile due to risks like Middle East conflicts.”
“Weakening fundamentals may soon force the Federal Reserve to ease monetary policy by lowering interest rates.”
“Cushman & Wakefield | PICOR has arranged the sale of Harrison Professional Plaza, a mixed-use building at 1020 S. Harrison Road in Tucson.”
$77.5M sale price [Source 1]
Establish comparable transaction database for Snohomish County multifamily assets. Request Cushman & Wakefield market analysis on Lynnwood multifamily pricing trends. Assess whether public housing authority acquisition reflects market fundamentals or policy-driven valuation. Monitor for similar public-sector multifamily acquisitions in the Pacific Northwest to identify emerging buyer class and pricing patterns
This transaction represents a significant multifamily disposition in the Pacific Northwest market, with the asset transitioning from a private developer to a public housing authority. The sale price of $77.5M for a 240-unit property yields approximately $322,917 per unit, providing a market-rate benchmark for Snohomish County multifamily valuations. The buyer's identity as a public housing authority suggests potential policy implications for affordable housing development in the region
Public sector buyer may indicate policy-driven acquisition rather than market-rate pricing, potentially distorting comparable transaction benchmarks for future private multifamily investments in the region
MediumRequest detailed pricing analysis from Cushman & Wakefield to determine whether the $77.5M price reflects market fundamentals or public housing authority subsidy/policy objectives. Compare against recent private-sector multifamily transactions in Snohomish County to establish true market-rate pricing for similar Class A assets
Recent completion of second phase (2025) means limited operational history; stabilization period and actual lease-up performance data not disclosed
MediumObtain occupancy rates, lease-up timeline, and operating expense data for both phases from the Housing Authority of Snohomish County or Cushman & Wakefield. Establish whether the property has achieved stabilized operations or remains in lease-up phase, which would materially affect valuation assessment
No financing details disclosed; unclear whether transaction involved debt or was all-cash, limiting analysis of buyer's capital structure and deal economics
LowRequest loan documents or financing summary from Snohomish County Housing Authority if publicly available through FOIA or public records requests. Determine whether public sector financing (bonds, HUD programs) was utilized, which would indicate non-market financing terms
End of Intelligence Report · 1 Sources Verified