CEP Multifamily Acquires 97-unit Cascade Meadows Apartments in Burlington, WA
EVERETT, Wash., Dec. 20, 2022 /PRNewswire/ -- CEP Multifamily (CEP) announced their December 15, 2022, acquisition of Cascade Meadows, a 97-unit apartment community in Burlington, WA. Cascade Meadows is the third acquisition for CEP's Workforce Housing Fund, a core-plus multifamily investment fund launched in early 2022 by the vertically integrated Everett-based firm. This acquisition grows CEP's existing portfolio to 1,509 units. The acquisition price was $27.5 million, or $283,505 per unit, according to Josh Jansen, CEP Multifamily's President and Managing Partner.
"Cascade Meadows is an ideal fit for our suburban, core-plus investment strategy and an excellent addition to our Workforce Housing Fund," said Jansen. "Skagit and Whatcom Counties offer a high quality of life, relative affordability, strong local economic fundamentals with direct linkages to regional employment hubs, and a diverse labor pool to support long-term population and employment growth…trends we believe will accelerate in the coming years."
Visit www.cepmultifamily.com to learn more about CEP Multifamily and the CEP Workforce Housing Fund.
Contact:
Jessica Disman, Director - Capital Markets & Investor Relations
jdisman@cep-mf.com
425-405-1885
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SOURCE CEP Multifamily
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