Tokyu Land and Hankyu Hanshin Acquire Two Multifamily Assets Near Seattle

Tokyu Land Corporation and Hankyu Hanshin Properties have jointly acquired two rental apartment properties, “Desie Apartments” and “Cierra Commons Apartments,” located in Burien, Washington.

This marks the second collaboration between the two companies. Both properties are situated near Seattle-Tacoma International Airport, offering convenient access to employment hubs such as the Kent Valley, as well as the downtown areas of Seattle and Bellevue. The location is expected to attract steady rental demand from dual-income households (DINKs) and families.

Key Facts

• Buyer: Tokyu Land US Corporation (a U.S. subsidiary of Tokyu Land Corporation) / Hankyu Hanshin Properties USA LLC (a U.S. subsidiary of Hankyu Hanshin Properties Corp.)

• Property Name: Desie Apartments

  • Location: Burien, Washington, U.S.

  • Completion: 1987

  • Number of Floors: 3F

  • Units: 146

  • Leasable Area: approx. 3,872 tsubo (approx. 128,000 sq. ft.)

• Property Name: Cierra Commons Apartments

  • Location: Burien, Washington, U.S.

  • Completion: 1988

  • Number of Floors: 3F

  • Units: 66

  • Leasable Area: approx. 1,422 tsubo (approx. 47,000 sq. ft.)