Institutional Property Advisors Brokers Multifamily Property Sale in Eastside Seattle
November 17, 2025
BELLEVUE, Wash., Nov. 17, 2025 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Juniper Ridge, a 44-unit multifamily asset in Bellevue, Washington. The property sold for $17.5 million, or $397,727 per unit.
“Juniper Ridge’s prime Bellevue location, paired with strong demographics, leading tech employment drivers, and high barriers to entry attracted significant interest,” said Philip Assouad, IPA senior managing director investments. “Its timeless architecture and spacious floor plans position the community for long-term value creation, making it an ideal legacy asset for the buyer.” Assouad and Giovanni Napoli, Ryan Harmon, Nick Ruggiero, and Anthony Palladino of IPA represented the seller, Pine Forest Properties, and procured the buyer, a local private investor.
Situated close to the intersection of Interstate 90 and Interstate 405, the property is near Downtown Bellevue and Downtown Seattle. T-Mobile’s U.S. headquarters is within one mile, and Microsoft’s headquarters is a short drive away. Amazon, Meta, Salesforce, and Overlake Medical Center are nearby.
Juniper Ridge was constructed in 1991 on nearly 4.5 acres, and all homes underwent renovations between 2015 and 2016. Apartments have kitchen pantries, linen closets, wood-burning fireplaces, and a private deck or patio. Top-floor units have vaulted ceilings and select apartments have views of the Seattle skyline and Lake Washington. The average unit size is 1,088 square feet.
“Juniper Ridge’s prime Bellevue location, paired with strong demographics, leading tech employment drivers, and high barriers to entry attracted significant interest,” said Philip Assouad, IPA senior managing director investments. “Its timeless architecture and spacious floor plans position the community for long-term value creation, making it an ideal legacy asset for the buyer.” Assouad and Giovanni Napoli, Ryan Harmon, Nick Ruggiero, and Anthony Palladino of IPA represented the seller, Pine Forest Properties, and procured the buyer, a local private investor.
Situated close to the intersection of Interstate 90 and Interstate 405, the property is near Downtown Bellevue and Downtown Seattle. T-Mobile’s U.S. headquarters is within one mile, and Microsoft’s headquarters is a short drive away. Amazon, Meta, Salesforce, and Overlake Medical Center are nearby.
Juniper Ridge was constructed in 1991 on nearly 4.5 acres, and all homes underwent renovations between 2015 and 2016. Apartments have kitchen pantries, linen closets, wood-burning fireplaces, and a private deck or patio. Top-floor units have vaulted ceilings and select apartments have views of the Seattle skyline and Lake Washington. The average unit size is 1,088 square feet.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.