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ISSAQUAH, WA-JPI Development has purchased a luxury 247-unit multifamily development site for $8.6 million.

The company acquired the 10.2-acre site from OLY/Intracorp General Partnership. The site is located within the 627 acres of the Talus Master Planned Community, located 20 minutes east of Seattle just south of the Interstate 90 corridor on the eastern slope of Cougar Mountain.

“Although recent events have shaken the country, JPI’s purchase of the development site in Talus demonstrates their confidence in Seattle’s economy and in America’s future,” says Cushman & Wakefield Senior Director Gregory A. Laycock. “Their commitment to quality along with the premier location will make this JPI project the marquee address for the Eastside.”

Laycock of C&W’s Apartment Group was the exclusive broker who facilitated this transaction. The Apartment Group, a Cushman & Wakefield company, specializes in the sale of multifamily properties nationwide. The Apartment Group has completed more than $4.2 billion in multifamily transactions.

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