Sares Regis Multifamily Value-Add Fund IV, LP (“SRMF VA-IV”) acquired Lakemont Orchard, a 201-unit apartment community in Issaquah, Washington, on November 15, 2022. The community is located in a beautiful setting at the base of the Cascade Mountains, close to a variety of outdoor activities. It is also conveniently located near many high-paying employment centers and Seattle-Tacoma International Airport.
Lakemont Orchard was originally built in 1992, and most interior units were partially renovated to different specifications under the previous ownership. The property offers one, two, and three-bedroom floorplans that are thoughtfully designed for comfort and style. All units have stainless steel appliances, in-unit full-size washers and dryers, wall or baseboard heaters, and private balconies.
SRMF VA-IV plans to upgrade all interior units with carefully curated enhancements and select finishes that will provide residents with an upscale living experience. The common areas will also be upgraded with luxurious finishes to create an atmosphere of sophistication and comfort.