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CBRE Brokers $48.5M Sale of Bremerton Insignia Apartments

CBRE’s Pacific Northwest-based multifamily real estate team of Eli Hanacek, Jon Hallgrimson, Mark Washington and Kyle Yamamoto has represented Security Properties in the sale of the Insignia Apartments in Bremerton, WA. The undisclosed buyer purchased the community for $48.5 million.

Built in 2017, Insignia Apartments is a 12-building, garden-style complex situated on 7 acres. One- and two-bedroom floor plans make up the 162 units, with an average size of 811 square feet. Community amenities include a fitness center, playground and dog park. Located at 1060 Insignia Loop, the property is 30 minutes from downtown Seattle, Washington via the Bremerton Ferry and is near several large employers.

“Insignia attracted investor interest for its location in a popular, growing suburb that his its own compelling downtown area, but is also easily accessible to downtown Seattle. Bremerton’s tight apartment vacancy and limited supply also provide for continued rent growth,” said Hanacek in a news release.

Photo courtesy of Porchlight Photography