Lake Washington Partners, a family-owned commercial real estate investor and developer based in Washington’s Puget Sound, is formally making the move into multifamily housing with the launch of Refound Residential.
“After more than two decades in office and industrial real estate, expanding into multifamily was a natural next step for us. We are long-term holders of real estate, and that aligns perfectly with the multifamily sector—where stability, community, and tenant experience matter most,” says Jordan Lott, president of Lake Washington Partners, which owns 10.5 million square feet of commercial property in 10 states. “With homeownership increasingly out of reach for many and new development constrained by high interest rates, demand for quality rental housing continues to grow. We believe this makes the timing ideal to launch Refound Residential.”
Refound Residential is upgrading existing apartment communities in the Seattle and Greater Eastside region. During its first phase of acquisition strategy, it purchased five multifamily assets in prime locations. Its most recent acquisitions in its growing portfolio are the 84-unit Union Park, located between Seattle’s Capitol Hill and First Hill neighborhoods, and the 47-unit St. Theodore on Roosevelt farther north. The buildings are expected to be reenvisioned with modern interiors and amenities over time.
“Our goal with every property investment is to build long-term partnerships within the community,” Lott says. “In nearly 20 years, we’ve sold very few of our assets, and that’s a reflection of our commitment. These upgraded apartment buildings represent a continuation of that philosophy, and we’re excited to share them with our neighbors.”
According to Lott, the Refound Residential team is actively searching for opportunities. “Our goals are to strategically grow the portfolio and capitalize on promising acquisitions in Seattle and beyond,” he adds.
