Decron Enters Seattle Fray in a Big Way

The low-density 56-acre community, Avana 522, was built in 1988 and expanded in 1999.

BOTHELL, WA—In one of the largest multifamily transactions in Seattle this year, Decron Properties recently acquired Avana 522, a 558-unit multifamily property, for $173 million. The transaction marks the Los Angeles-based real estate firm’s entry into the Pacific Northwest real estate market after years of due diligence.

Avana’s high unit count allows Decron, which owns close to 7,500 apartment units in California, to immediately enter the Seattle market with scale through a single acquisition and paves the way for additional investments in the Seattle MSA. Decron’s investment strategy focuses on opportunities that are supported by long-term growth drivers, specifically job creation, supply and demand imbalance, and strong public school systems.