San Mateo Company Looks to Float on Microsoft’s Cloud
- Jul 06, 2015
Redmond, the small city in the Puget Sound area, is most often referred to in relation to its famous resident: Microsoft Corp. The software behemoth is the financial backbone of Redmond and the main driver of both commercial and residential real estate. And now it’s attracted another residential investor: San Mateo, Calif.-based G.W. Williams Co. recently entered the market with the purchase of a residential property.
G.W. Williams paid property development and investment company Grosvenor Americas $43 million for the Peloton Apartments. The deal was brokered by Turning Point Realty Advisors, a Kirkland-based entity. The community’s placement in the vicinity of the Microsoft, Nintendo America and Digipen Institute of Technology campuses means that residents working in the tech sector will be drawn to Peloton. Redmond Town Center is also nearby, as well as local wineries and the Redmond Ridge golf course.
The 150-unit community offers residents access to the most important transportation lines in the Pacific Northwest: the I-5 and the I-405. Ranging in size between 708 and 981 square feet, the units at Peloton offer stainless steel appliances and hardwood floors. The community amenity package also includes an outdoor heated pool and sundeck, a fitness center, a lounge and a community barbecue and picnic area. Most of these were added as part of an extensive refurbishment conducted by the former owner after Grosvenor acquired the property eight years ago.