Business Wire·Sep 24, 2026, 6:42 PM ET

50-Acre Puget Sound Multifamily Asset Sale Brokered by Institutional Property Advisors

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of the 524-unit Griffis North Creek multifamily property in Bothell, Washington.
The buyer is GID, and the seller is Griffis Residential.
IPA team members Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero, and Anthony Palladino represented the seller & procured the buyer.
The property sits on nearly 50 acres within a dynamic employment hub in Seattle's Eastside, featuring high-paying jobs from companies like Microsoft, Amazon, Google, Meta, & Apple.
Griffis Residential completed high-end renovations to 43% of the units & common areas, with the buyer planning to continue upgrades throughout the property.
Built in 1999, the site includes 23 three-story buildings, greenbelts, a creek, & amenities such as a heated pool, spa, walking trails, & a dog park.
The unit mix consists of one-, two-, & three-bedroom apartments averaging 835 square feet, all featuring private decks, full-size laundry, & walk-in closets.
The neighborhood has an average annual household income exceeding $142,000 & is located near the Canyon Park & Parklands North Creek business centers.