CBRE facilitated the recapitalization of The Maverick, a 229-unit multifamily community in Burien, and brought in a new joint venture equity partner, Stockbridge Capital Group, LLC.
CBRE’s Eli Hanacek, Kyle Yamamoto, Mark Washington and Natalie Kasper represented the owner, Pillar Properties.
“The recapitalization of Maverick Apartments represented a rare equity partnership opportunity on an irreplaceable asset in the heart of Burien’s Town Square,” said Washington. “This investment offers immediate stability with compelling upside, making it a standout in today’s competitive market.”
Located at 15045 5th Ave SW in Burien, The Maverick was built in 2017 with studio, one- and two-bedroom units. Amenities include a movie theater, a two-story 24-hour fitness center, yoga center and resident club lounge.
The Maverick is within walking distance of Burien Town Square, which includes shopping and restaurants. The property is also a 10-minute drive to the Seattle International Airport, a 15-minute drive to downtown Seattle and minutes away from large employers.
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