Fairfield Acquires Riverpark Apartments in Redmond, WA

Acquisition Expands Fairfield’s Scale in Seattle Market

SAN DIEGO, CA – January 23, 2025 – Fairfield today announced the acquisition of Riverpark Apartments, a community of 321 studio, one-, two-, and three-bedroom apartments and lofts in Redmond, Wash., that includes 32 affordable apartments.

“Fairfield is thrilled about the opportunity to acquire a high-quality asset in Redmond. It’s a submarket that we know extremely well, having developed and sold an asset right across the street,” said Vice President of Acquisitions Jason de Guzman. “Riverpark is located just minutes from Microsoft’s global headquarters and offers excellent connectivity to transit, as evidenced by its Walk Score® of 90.”

Located blocks from Redmond’s main business district, Riverpark’s apartments are available in a variety of layouts averaging more than 1,000 square feet, including options with a loft and/or a den. “Riverpark fits right into Fairfield’s acquisition parameters with its large, attractive floor plans, significant rent upside, and discount to replacement cost.” de Guzman added.

Fairfield plans to bring additional value to the community through renovations in the coming years. Located at 15803 Bear Creek Pkwy. in Redmond, Riverpark is now leasing under Fairfield management. The community offers modern apartment homes with beautiful finishes and luxury amenities, including a pool, fitness center, social lounge, and screening room.

About Fairfield

Fairfield is an owner, developer, and operator of multifamily communities throughout the U.S. We own approximately 44,400 units nationwide across luxury new construction, renovated apartment homes, and tax credit affordable housing in urban and suburban neighborhoods. We offer an integrated national multifamily services platform providing development, construction, renovation, asset and property management, and acquisition and disposition services to our investors. Fairfield operates nationwide, headquartered in San Diego with regional offices in Atlanta, Boston, Dallas, Denver, and Washington, D.C. Fairfield Realty Advisors LLC is registered as an investment adviser with the U.S. Securities and Exchange Commission.

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