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Atwater Clearing

Everett, WA

Atwater Clearing

Overview

Location

Everett, WA

Acquired

2015

Units

198

Acquisition Price

$26,365,000

Capital

$10,300,000

Status

Holding

Less than one mile from Hangar 128, the Brisa Apartments, now rebranded Atwater Clearing, offered another opportunity to capitalize on the employment boom and strong economic growth in south Snohomish County and the greater Puget Sound region.

This attractive, 1990 vintage property was built on the shores of a small, spring-fed lake abutting the property along its entire eastern side. The unique, waterfront location sets Atwater Clearing apart from the competition and adds a proprietary sense of exclusivity for its residents.

Directly across the street from Atwater Clearing are two very large, Class A, luxury apartment properties. We couldn’t be happier with this arrangement because their advertising brings thousands of upscale renters right past our front door annually. Brisa’s beautifully renovated apartment interiors look, feel and function like new, upscale apartments, but lease for hundreds of dollars per month less than our neighboring competition.

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