RISE Properties Trust, a Canadian real estate trust based in Seattle, and Aegon Real Assets US, an indirect wholly owned subsidiary of Aegon N.V., a multinational life insurance, pensions and asset management company headquartered in the Netherlands, have purchased Bryson Square Apartments on Kent’s East Hill for $43.25 million.<\/p>\n
Bryson Square, 24006 108th Pl. S.E.<\/a>, was built in 1988 and has 198 units. Monthly rents range from $1,345 for a one bedroom to $2,014 for a three bedroom, two bath, according to brysonsquareapts.com<\/a>.<\/p>\n RISE just purchased Waterford at the Lakes Apartments in Kent for $83.2 million in May.<\/p>\n “We’ve seen very strong growth in the Kent submarket, and particular improvement in the micro-location around Bryson Square,” said Jason Murray, a RISE investment manager, in a press release Tuesday. “With our continued confidence in the fundamentals of real estate market both locally and regionally, we see the opportunity as a great first venture between RISE and Aegon. “<\/p>\n Bryson Square is approximately 25 minutes south from both Seattle and Bellevue and is about 2 miles from Kent Station, an open-air lifestyle destination that includes a Sounder train station, a 14-screen AMC theater, over 15 restaurants and another 30-plus retailers and servicers.<\/p>\n “The acquisition of Bryson Square further illustrates Aegon RA’s investment strategy which focuses on acquiring, improving and preserving workforce housing in select metros across the U.S.,” said Cameron Jones , head of real estate equity acquisitions for Aegon RA. “The venture with RISE showcases alignment with regional experts and leverages our experience and depth of relationships in the multi-family sector.”<\/p>\n Including Bryson Square, RISE owns approximately 2,700 units across 16 multifamily properties in the Pacific Northwest.<\/p>\n The property will be managed by Thrive Communities, a Seattle-based property management firm with approximately 11,000 apartments under management. Thrive also will manage Waterford at the Lakes Apartments.<\/p>\n","protected":false},"excerpt":{"rendered":" 198-unit complex built in 1988 on East Hill <\/p>\n","protected":false},"author":106,"featured_media":40948,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,9],"tags":[],"yst_prominent_words":[],"class_list":["post-40947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-home"],"_links":{"self":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts\/40947"}],"collection":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/users\/106"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/comments?post=40947"}],"version-history":[{"count":0,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/posts\/40947\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/media\/40948"}],"wp:attachment":[{"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/media?parent=40947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/categories?post=40947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/tags?post=40947"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.kentreporter.com\/wp-json\/wp\/v2\/yst_prominent_words?post=40947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}